This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Federal Budget Support For Innovation And Skills Training Will Drive Productivity And Economic Growth Says Canadian Gas Association

OTTAWA, March 21, 2013 /CNW/ - The federal budget announced today contains a number of measures that will benefit Canadians and drive productivity and economic growth said the Canadian Gas Association.

The federal budget includes initiatives that will help support Canada's economic growth and prosperity including:

  • Investment in job and skills training for Canadians.
  • Investment in community infrastructure development.
  • Significant investment in research and innovation.

"Investing in training, job skills, and community infrastructure all help to improve our competitiveness and productivity.  And support for research and innovation will help ensure long-term growth," said Timothy M. Egan, President and CEO of the Canadian Gas Association.

CGA believes these initiatives offer significant opportunity to build on the innovation agenda:

  • $7 billion over 10 years in First Nations infrastructure including roads, bridges, energy systems, and other priorities.
  • Expansion of the 43.2 accelerated capital cost allowance to include biogas and biomethane production, cleanup, and upgrading equipment used to treat eligible gases from waste.
  • $37 million annually to granting councils in support of research partnerships with industry to create and deploy new technologies, products, and services into the marketplace.
  • $325 million over eight years to Sustainable Development Technology Canada (SDTC) to support the development and deployment of new clean technologies which save businesses money, create jobs, and drive innovation.
  • $20 million over three years for an NRC pilot program for small and medium sized businesses for product and service commercialization.

"CGA has been driving forward with its own agenda on innovation," Egan noted. "Natural gas utilities look forward to opportunities to work with the Government of Canada on this."

CGA did note the government's reference to the potential negative implications of lower natural gas prices because of lower revenues and would highlight the fact that there is a very positive implication as well: energy that is even more affordable for Canadian homeowners, businesses, and industry.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs