Liberals promise to halve tax rate for clean tech companies as part of long-range climate action plan

A re-elected Liberal government would halve the corporate tax rate for companies that develop or manufacture products with zero emissions — part of the party’s plan to move to net-zero emissions by 2050, Liberal Leader Justin Trudeau announced today.

Taxes for small clean technology businesses would be reduced to 4.5 percent from the current nine percent under the Liberal plan, while larger companies would pay 7.5 percent in taxes instead of the current 15 percent.

Eligible sectors could include manufacturing related to renewable energy, production of renewable fuels, zero-emission vehicles and batteries for them, carbon capture and removal technology and electric vehicle charging systems.

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