Long-Term Cost of Net-Zero Investment Tax Credits $10 Billion Higher, Says Budget Officer

Parliamentary Budget Officer Yves Giroux waits to appear before the Senate Committee on National Finance, in Ottawa on Oct. 17, 2023. The Canadian Press/Adrian Wyld

Investment tax credits geared toward reaching net-zero emissions will make a larger dent in the budget than predicted by Ottawa, the Parliamentary Budget Officer (PBO) estimates.

In an analysis released on July 3, the federal budget watchdog projects the total fiscal costs for six investment tax credits will reach $103 billion from fiscal years 2022–2023 to 2034–2035.