Ottawa Handing 10-Year, $2 Billion Tax Break to Battery Makers, Records Show

Published on February 15, 2024

Finance Minister Chrystia Freeland is handing a 10-year tax holiday worth $2.1 billion to electric auto battery manufacturers, government documents show. Government amendments to Income Tax Act regulations grant the decade-long tax waiver to battery factories on top of the billions in subsidies they are already receiving.  “The cost of foregone federal tax revenue associated with the regulatory amendment is estimated to be about $2.1 billion over 10 years starting in 2024,” reads a Regulatory Impact Analysis Statement first obtained by Blacklock’s Reporter. “The Government of Canada is contractually obligated to provide support on a tax-neutral basis.” Ms. Freeland has not commented on the decision other than to say in a legal notice that there were no “stakeholders to consult” beyond the auto battery manufacturers themselves....

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