CSPA 'encouraged' to see investment tax credits for carbon capture/storage, hydrogen, clean technology, clean energy in federal budget, urges Canadian government to finalize specifics of Contracts For Differences, citing unfairly traded steel in market

Sample article from our Government & Public Policy

April 19, 2023 (press release) –

Today, the President and CEO of the Canadian Steel Producers Association (CSPA), Catherine Cobden released the following statement in response to the 2023 Federal Budget:

“The Canadian Steel Producers Association is pleased to see this budget significantly expand the climate toolkit to support heavy industry’s competitiveness as Canada moves towards a net zero economy.

While members are still assessing the details, we are encouraged to see investment tax credits for carbon capture and storage, hydrogen, clean technology manufacturing, and clean electricity in the budget. We also applaud the government’s plan to immediately implement a Contracts For Differences policy and to further capitalize the successful Strategic Innovation Fund with an additional $500M.

We believe the federal government’s commitment to pursuing reciprocal procurement measures to be strategic and helpful. As evidenced during the recent visit by US President Biden, strengthening green supply chains with countries with whom we have trade agreements is a winning solution. We are pleased that the government has understood the urgency associated with unfairly traded steel in our market and is committed to the implementation of this new tool in the near-term.

CSPA and its members remain committed to continuing to work with the government and urgently reiterate that all efforts must be focused on finalizing specifics and putting these new tools to work for steel and other heavy industries as quickly as possible.”

Media Contact

Catherine Cobden
President & CEO, Canadian Steel Producers Association
+1 613-884-4856
c.cobden@canadiansteel.ca

About the Canadian Steel Producers Association

The Canadian Steel Producers Association is the national voice of Canada's primary steel and the pipe and tube industry, dedicated to ensuring a competitive and sustainable business environment for its members and supply chain stakeholders. Canadian steel producers are integral to Canada's economy and a vital supplier to many segments of North American industry, including the automotive, energy, construction, and transportation sectors.

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