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Environment committee  —international peer review, we probably need a few months before that. Therefore, we're probably aiming for the summer of next year at least to get to that December 2023 deadline.

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  That would be the aim in order to get to the—

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  Where we stand currently is that we believe the nine measures identified using the approach we used up until recently—not presuming the outcome of the current framework analysis we're doing with ECCC—that we by now have eliminated or announced that we will eliminate, because it i

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  Do you mean ones that are still in the phase-out? Although the elimination has been announced, they may still be in a phase-out. Is that what you're suggesting?

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  As I said, where we stand now, we think that we've phased out or announced a phase-out of all of them. If you look at our tax expenditure report, there's a specific section there that mentions the tax expenditures that are supporting the fossil fuel sector. All of them have eithe

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  I'm not 100% sure I can give the answer to that. What I can say is that it's a bit difficult to directly compare, because the nature of the support was different, I believe. My understanding is that, in Norway, the support was getting up to probably around two-thirds. Again, the

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  Eliminating a tax measure causes a reduction of tax revenues. Since these are tax measures, that money is returned directly into the consolidated fund, and any other measures that support renewable energy would be funded from the government's consolidated fund.

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  There is no direct link between the two, but the answer is yes.

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  The objective of the CCUS tax credit is to create a real incentive for large emitters to invest in that technology sooner than later, in order to advance potential emission reductions to reach objectives sooner. The objective was to have an incremental effect of 15 megatonnes b

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  Potentially it would have. It would potentially change the assessment.

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  I can confirm that I am aware of the Quebec system, which also is tied to the California system, I believe. The California system prevents credits generated from export fuels, or in the case of California, fuel not finally used in Canada, to access that clean fuel standard market

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  Thank you, Hilary. On the tax side, we have to understand that these measures are announced typically through budgets. Like any tax measure, the way consultation is done at the minimum is, once the proposal is announced, the department enters into some consultation mode, often t

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  I'm sorry. When you say on this matter, what...?

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  On defining an efficient fossil fuel subsidy...?

May 5th, 2022Committee meeting

Miodrag Jovanovic

Environment committee  As I said, on eliminating fossil fuel subsidies, that's done through the budget process. We advise the Minister of Finance, the government makes its decision and then it's announced through the budget process. What happens is that often it's not necessarily counted as an official

May 5th, 2022Committee meeting

Miodrag Jovanovic