Imagine looking at a provincial policy that increased construction costs, reduced bidders, and cut out 85 per cent of an industry’s workforce from being part of building a project – and thinking, “We should try and emulate that model.”
That’s precisely what the Trudeau Government has done with its proposed Investment Tax Credit (ITC), announced in March as part of the federal budget. While the goal of the ITC is to facilitate investment in major projects, the underlying conditions will hamper and needlessly complicate how proponents approach investments in major projects in Canada.