Finance Canada

A proposed income tax change to crack down on cross-border tax avoidance could unintentionally hike power bills and natural gas rates for consumers, Electricity Canada is warning.

That's according to a regulatory filing Trans Mountain Corp. provided to the Canada Energy Regulator on Monday. It represents the latest in a series of cost increases for the high-profile project, which in 2017 was estimated to cost just $7.4 billion.

Despite pledging to play their role cutting planet-warming greenhouse gas emissions, Canadian banks have continued pumping billions into the Trans Mountain pipeline expansion project designed to help Canadian oil companies grow. Even as Ottawa says the public won't be on the hook, experts say that's precisely what will happen.

Trans Mountain wants to charge oil shippers more to use its expansion pipeline, but those increased tolls wouldn’t cover even half of the project’s $30.9-billion price tag.

Subsidizing fossil fuels while committing to slash greenhouse gas emissions is like trying to push a boulder both up and down a mountain at the same time, so why can't Canada get a plan in place?

The federal government is once again putting taxpayer dollars on the line to prop up the Trans Mountain pipeline expansion.

Trans Mountain will have to repay the banks, with interest, and experts warn it is unlikely the company will be able to repay banks based on the project’s construction costs, tolls and international oil markets.

The federal government is banking on tax breaks for companies, to the tune of more than $80 billion, to usher Canada into a low-carbon economy, Tuesday’s budget announcements show.

The federal government plans to introduce a tax credit for clean hydrogen investments in Budget 2023, but academics and some civil society groups say there’s a risk it could end up subsidizing fossil fuels if it’s not done right.

Some of Canada’s biggest corporations received a pandemic subsidy intended to keep their employees on the payroll, but a new report finds that in many cases, these large companies actually reduced employment while padding the pockets of shareholders.

The average pay of Canada’s top 100 CEOs hit an all-time high in 2021, making the wage gap between CEOs and workers bigger than it’s ever been, according to a new report. 

Bloc Québécois MP Monique Pauzé blasted the federal government in question period after a report forecasted roughly $17 billion of Trans Mountain’s public debt will be forgiven. 

Finance Canada won’t confirm whether it will consider forgiving Trans Mountain’s massive public debts at the expense of taxpayers, despite ample indications that loan forgiveness is inevitable.

António Guterres implored developed countries to tax the windfall profits of fossil fuel companies and redirect those resources to countries hardest hit by the climate crisis in his sombre remarks to the UN General Assembly in New York.

Sky-high net earnings for Canada’s four biggest oil companies have renewed calls for a windfall tax that Ottawa shows no sign of adopting.