March 6, 2007

Ontario investment will deliver real results for Canadians

Toronto, Ontario — Prime Minister Stephen Harper, joined by Ontario Premier Dalton McGuinty, today announced that Canada's New Government intends to provide Ontario with $586.2 million, as part of a new Canada ecoTrust to support provincial projects that will result in real reductions in greenhouse gas emissions and air pollutants.

“Canada's New Government is investing to protect Canadians from the consequences of climate change, air pollution and greenhouse gas emissions,” said the Prime Minister. “Today's announcement recognizes Ontario's ambitious plans in this area, and provides support for measurable progress that benefits all Canadians.”

“Canadians know that a sustainable economy is a healthy economy, and growth that's green is growth that lasts,” said Premier McGuinty.  “This new funding is a good example of what we can do, working together, to ensure that our children and grandchildren continue to enjoy every opportunity and a quality of life that is second to none.”

Ontario's funding under the Canada ecoTrust is intended to support projects that will result in measurable reductions in greenhouse gas emissions, such as increasing Ontario's supply of clean and renewable electricity.  It will also support Ontario's plans to phase out its remaining coal fired generating stations.  Ontario anticipates that the closure of these coal fired power plants would result in emissions reductions of up to 30 million tonnes of carbon dioxide emissions.

The Ontario government has indicated it will use the Canada ecoTrust funding to move forward on clean-energy related projects such as expedited investment in constructing an East-West electrical transmission interconnect with Manitoba, allowing for the importation of clean hydroelectric power.

The Canada ecoTrust for Clean Air and Climate Change will allow each province and territory to develop technology, energy efficiency, and other projects that will provide real results. The Government of Canada will work with all provinces and territories to fully develop this new, national fund.

Canada's New Government is already taking concrete action to reduce greenhouse gas emissions and air pollution by committing to implement aggressive regulations to reduce emissions in all sectors and bring in new initiatives in the energy and transportation sectors. The provincial initiatives supported by the Canada ecoTrust will complement those efforts.

This Canada ecoTrust will be established using part of the anticipated 2006-07 budgetary surplus. The resources for the Canada ecoTrust initiative will consist of 1.5 billion dollars of new funding on a national basis. This funding will be contained in the upcoming budget and is a part of the actions to be taken on the fiscal imbalance. This new funding will be available as soon as Parliament approves that budget.