In the face of a downturn in the exploration industry, New Democrats tabled amendments to the budget to provide certainty for the industry. Charlie Angus brought forward an amendment to the finance committee to expand the mineral exploration tax credit from one year to five years. Unfortunately, the Liberal-dominated committee voted down the move.
Angus says the new government just doesn't seem to get the importance of exploration for northern communities.
"Supporting an extension of the mineral exploration tax credit isn't rocket science. This would have sent a strong message to a struggling industry that the federal government understands the need to maintain a healthy exploration community. New Democrats are pushing to extend the mineral exploration tax-credit to five years instead of holding the industry hostage every year for a renewal.”
The mineral exploration tax credit is crucial to finding the next generation of ore deposits. Since coming to power, however, the Trudeau government has shown little interest in addressing issues for the exploration sector. Angus says the government blew a good opportunity to make a difference for the north.
"Where are the Liberal MPs in Northern Ontario who should be speaking up for exploration? We have been pushing for a strong framework for development that includes the involvement with Indigenous communities, strong environmental standards and a positive investment climate. The Liberals dropped the ball yet again on the north.”
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