The House of Commons Standing Committee on Industry and Technology just released a recommendation (from page 83 of the Report):
"In Canada, and more particularly in Quebec, there is concern about Section 45X of this law, which offers tax credits to subsidize the production of electric battery components for the next decade. The November 2022 economic statement outlines the challenges related to this U.S.
industrial strategy. For the first time in decades, the federal government should seriously consider the introduction of similar appropriations.
Quebec with its clean electricity attracts some companies, compared to coal-fired power plants in some of the American states. Clean energy is incredibly valuable to investors, as is its reliable distribution network. Quebec has a skilled workforce and talent in the fields sought after by companies in the electric car battery chain.
Recommendations:
That the federal government introduce battery production credits to balance the playing field and allow companies in its battery supply chain to remain competitive. "
I had testified before that Committee, but on something else.
These kinds of recommendations generally convert into policy under 12 months.
A federal subsidy, aimed at Quebec production, would help HPQ.