CANADIAN 2022 BUDGET

• Sees 2022/23 deficit of CAD 52.8bln vs CAD 58.4bln in Dec; sees 2021/22 deficit of CAD 113.8bln vs CAD 144.5bln


• Sees 2022/23 federal debt-to-GDP ratio of 45.1% vs 47.3% in Dec, 2021/2022 debt-to-GDP ratio of 46.5% vs 48.0% in Dec


• Sees up to CAD 3.8bln over 8yrs for a critical minerals strategy, including a 30% tax credit for exploration expenses.


• Introduces carbon capture tax credit of 60% for direct air capture equipment, 50% for all other equipment, starting in 2022.


• Tax credit for carbon capture storage, transportation equipment to be 37.5%.


• To extend buyer incentive for zero-emissions vehicles to March 2025, broaden to support purchase of more models.


• Set aside CAD 15bln over 5yr create growth fund to spur private investment.


• Pledges CAD 29bl in net new spending over 5 years to address affordability challenges and boost medium-term growth


• Includes CAD 9.5blnin net new spending on housing over 5 years; plan to legally ban foreign buyers from housing for two years


• Proposes to increase corporate tax rate on big bank and insurer taxable income over CAD 100 million to 16.5% from 15%


• Sees 2022 real GDP growth of 3.9%, 3.1% in 2023, 2.0% in 2024, 1.9% in 2025, 1.8% in 2026


• Canada to boost military spending over next five years and review defense goals.


• Canada introduces carbon capture tax credit of 60% for direct air capture equipment, 50% for all other equipment, starting in 2022.


• Canada tax credit for carbon capture storage, transportation equipment to be 37.5%.


• Canada to extend buyer incentive for zero-emissions vehicles to march 2025, broaden to support purchase of more models.


• Canada's budget to set aside CAD 15bln over 5 years create growth fund to spur private investment.

07 Apr 2022 - 21:08- Data- Source: Newswires