Today, the Federal Government released the 2023 Fall Economic Statement, which included several strong commitments for Building Trades members and skilled trades workers across Canada. Canada’s Building Trades Unions (CBTU) are very pleased to see a road map for the Investment Tax Credits (ITCs) included in today’s Fall Economic Statement. The Investment Tax Credits were introduced in last year’s Fall Economic Statement and the 2023 Federal Budget this past spring for investments in Clean Energy, Clean Technology, Hydrogen, and Carbon Capture. They will provide financial incentives to employers who adhere to the new definition of prevailing wage, based on regional collective bargaining agreements and apprenticeship requirements. CBTU is also pleased to see the expansion of the Investment Tax Credits to include biomass.
“CBTU looks forward to seeing Investment Tax Credits legislation implemented, which will support Building Trades members and construction workers across the country, employers, and the economy as Canada’s energy sector transitions to net-zero,” said Sean Strickland, Executive Director of Canada’s Building Trades Unions. CBTU looks forward to working with the government to make this important legislation a reality.
CBTU is also pleased to see the federal government prioritize investments in housing and construction – a crucial and much-needed move at this time. We welcome the announcement of a new Department of Housing, Infrastructure, and Communities. CBTU is supportive of the new housing measures, including $15 billion in low-interest loans for rental housing developers, and $1 billion in investments for affordable housing, that were announced by the government during a time where affordable housing is more scarce than ever, and the cost of living continues to rise. Our members are the most highly-trained and skilled unionized construction workers in Canada, and we stand ready to build more homes for Canadians to address the housing shortage that we’re seeing across the country.
Finally, CBTU welcomes the updates to Employment Insurance (EI) benefits, and we will continue to work with the government on improving EI to better support unionized skilled trades workers.
