Budget 2025 reaffirms industrial carbon pricing key to Canada’s climate competitiveness while unlocking clean electricity and critical minerals investments

Press Release

(OTTAWA, ON) November 4, 2025. With its 2025 Budget, Canada signals a clear commitment to growing stronger industries built to compete globally. Combined, the reaffirmation of the industrial carbon price, new retroactive tax incentives to scale clean electricity and technology investments and the launch of a Critical Minerals Sovereign Fund will make companies more efficient, productive and cleaner, giving them a competitive edge in markets Canada needs to grow into to diversify trade, which are increasingly establishing low-carbon trade rules.

In response, Jason Clark, VP of government relations at New Economy Canada said:

“Canada isn’t ignoring the global shifts as we plan our economic future, especially as we navigate our changing relationship with the United States. Today’s budget shows that. The newly announced climate competitiveness strategy sends the right signal on the importance of industrial pricing for global competitiveness. At the same time, businesses need certainty as soon as possible to unlock investment, and federal, provincial and territorial governments must act with urgency to establish the long-term trajectory and durability necessary to drive toward 2050.

Attracting new investment is one of the fastest ways to make Canada’s economy more innovative, cleaner and stronger. Today’s announcement of new and retroactive clean electricity, technology, mining and manufacturing investment tax credits and a $2B Critical Minerals Sovereign Fund will do just that, unlocking projects that support Canadian businesses, create high-quality jobs, and drive economic growth.

The combination of these measures gives Canadian industries the tools to tackle today’s challenges and adapt to compete globally tomorrow. We applaud this commitment to Canada’s future as a leader in clean energy, critical minerals and advanced technology manufacturing.”

New Economy Canada is a non-partisan initiative uniting over 60 companies, labour unions and Indigenous organizations, all committed to accelerating investment in Canada’s clean economy. Our members employ or represent over 410,000 workers and generate annual revenues of over $200 billion CAD.

For media inquiries:

Rebecca Spring, director of communications, Rebecca.spring@neweconomycanada.ca

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