What is in Budget 2021 for Coquitlam-Port Coquitlam?
Protecting Oceans and Supporting the Blue Economy
- Preserving Wild Pacific Salmon ($647.1 million over five years and $98.9 million amortization)
- Sustainable Aquaculture Management ($20 million for consultation on ending open net-pen farming by 2025, and $3 million to pilot area-based management approaches)
- Conserving Canada’s Oceans ($976.8 million over five years and $80 million amortization to protect 25% of marine and coastal areas by 2025)
Fighting Climate Change and Building a More Sustainable Future
- Lowering home energy bills through interest-free loans of up to $40,000 for retrofits
- Growing zero-emission technology manufacturing by reducing —by 50 percent—the general corporate and small business income tax rates for businesses that manufacture zero-emission technologies
- Providing up to $35 million to help establish the Centre for Innovation and Clean Energy to advance the scale-up and commercialization of clean technologies in B.C. and across Canada
Supporting Families and Making Life More Affordable
- Providing $2.5 billion over seven years to the CMHC, including $1.5 billion for the Rapid Housing Initiative, and reallocating $1.3 billion to addressing emerging housing needs
- Establishing a Canada-Wide Early Learning and Child Care System
Supporting Jobs and Businesses
- Establishing a new Regional Development Agency for British Columbia with $553.1M over five years and $110.6 million ongoing
- Making available a $1 billion package of tourism supports
Supporting Infrastructure and Communities
- Providing $500 million over two years to the RDAs for a Canada Community Revitalization Fund
- Establishing a Natural Infrastructure Fund to support conservation and biodiversity while mitigating the impacts of climate change
- Recapitalizing the National Trade Corridors Fund with $1.9 billion over four years to support economic recovery and make Canada’s transportation system more fluid
- Addressing the opioid crisis and problematic substance abuse with $116 million over two years for the Substance Use and Addictions Program
To read the Budget 2021 speech or to review the budget documents, please visit https://www.canada.ca/en/department-finance/services/publications/federal-budget.html