On Friday, CNO business reporter Darius Snieckus published an excellent investigative piece exposing the bottleneck in federal approvals for those seeking “clean economy tax credits.” More specifically, Snieckus uncovered that:

“The vast majority of claims submitted to Ottawa’s flagship clean economy investment tax credit (ITC) scheme remain stuck in the system as the Canada Revenue Agency staffs up the program meant to anchor the country’s low-carbon shift. Of the 1,750 claims worth $1.6 billion filed under the six ITCs designed to help Canada reach net-zero emissions by 2050, between 69 per cent and 87 per cent are currently marked ‘in progress,’ according to newly released CRA data.”

“The vast majority of claims submitted to Ottawa’s flagship clean economy investment tax credit (ITC) scheme remain stuck in the system as the Canada Revenue Agency staffs up the program meant to anchor the country’s low-carbon shift. Of the 1,750 claims worth $1.6 billion filed under the six ITCs designed to help Canada reach net-zero emissions by 2050, between 69 per cent and 87 per cent are currently marked ‘in progress,’ according to newly released CRA data.”

While this is certainly a fascinating finding, the CNO exposé understates what to my mind is the far more significant discovery embedded in what has been unearthed: only $1.6 billion in claims have been submitted! This despite a total budget allocation of $93 billion for the period 2022 to 2034. For goodness’ sake, this package of ITCs is supposed to be the centrepiece of........

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