Forest Products Association of Canada Issues Statement on Federal Budget 2023
Ottawa, Ontario--(Newsfile Corp. - March 28, 2023) - Earlier today, Forest Products Association of Canada President and CEO, Derek Nighbor, released the following statement on the Federal Budget 2023 tabled by Finance Minister Chrystia Freeland:
"FPAC was pleased to see Minister Freeland signal renewed support for Canada's forest sector and its workers and communities. Today she clearly outlined the leadership role forestry and forest products can play in growing Canada's green economy.
This started with Minister Freeland pledging $368.4 million over three years toward Indigenous leadership in the sector, forestry research and development, low-carbon building construction, and support to bring more sustainably sourced Canadian forest products to the world. Today, the Finance Minister sent a clear message to Canadian forestry workers - that they are among the best in the world at what they do and are essential players in the lower carbon economy of tomorrow.
Today's budget also delivered on the promise of forest biomass from Canada's sustainably managed forests. In the face of worsening and more catastrophic fire patterns, today's budget recognized that we need to do more to build new markets for stranded wood fibre and wood waste, realize the climate benefits of our biomass here at home, and help maximize carbon sinks in our forests.
The budget rightly noted that forest biomass and biofuels provide a critical energy source and create much-needed economic growth for forestry businesses, workers, and families in northern and rural communities.
FPAC looks forward to working with the federal government to ensure its climate policies and regulations enable growth in the sector and that its suite of critical Investment Tax Credits will include Canadian forestry solutions. Under these conditions, we can get more people working, and accelerate our move to a lower carbon economy."
FPAC provides a voice for Canada's wood, pulp, and paper producers nationally and internationally in government, trade, and environmental affairs. As an industry with annual revenues exceeding $75B, Canada's forest products sector is one of the country's largest employers operating in over 600 communities, providing 225,000 direct jobs, and over 600,000 indirect jobs across the country. FPAC and its members are committed to collaborating with Indigenous leaders, federal and provincial governments, labour partners, community groups, and other rightsholders and stakeholders to secure and advance the sector's environmental, social, and economic potential for the long-term.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160309