No New Jobs Came from Alberta’s $4B ‘Job Creation’ Tax Cut for Big Oil: Instead, a total of 3,452 jobs with oil sands majors
were lost to automation and consolidation since 2019, concludes the
report from the University of Alberta’s Parkland Institute. “Meanwhile,
those same companies added millions of dollars to the compensation of
their CEOs and rewarded their shareholders with generous dividends,” the
institute says.

Alberta Premier Jason Kenney’s United
Conservative Party (UCP) government said 55,000 new jobs would be
created, offsetting a projected $2.4-billion loss in revenue, from its
plan to cut the corporate tax rate from 12% in 2019 to 8% by 2022. But
three years later, and with the 8% tax cut delivered two years ahead of
schedule via Alberta’s Recovery Plan, Parkland says that the boon to the
corporate sector enriched the coffers of the oil sands “Big Four,” even
as provincial revenues tanked by twice the projected amount. And 3,452
oil sands workers have been given pink slips.

Canada’s largest corporations avoided $30 billion in taxes last year, report finds: Canada’s
largest corporations are making record profits and paying income tax at
record-low rates, according to a new report from the non-profit
Canadians for Tax Fairness.

The
report found an “enormous increase” in the gap between what
corporations would pay at the corporate rate stipulated in the tax code
and what they actually paid. That gap grew to $30 billion in 2021 — an
amount the organization says represents an “unexplained loss” to the
country.

The report analyzed the
profits and taxes paid by 123 of the country’s largest corporations with
a market capitalization of $2 billion or more over the past five years.
It found the annual tax gap in the three years before the pandemic
averaged $13.5 billion, but that amount more than doubled — to $30
billion — in 2021.

Our clean energy future has arrived – if we want it | Corporate Knights: The astounding aspect of green energy technology is the fact that it all
exists today, most of it has been around for decades. No new inventions
are required to go green. But implementing alternative technologies on a
large scale and truly decarbonizing our atmosphere to prevent further
climate change will take more than scientific expertise and technical
skill. It will require political will, economic investment, and public
acceptance. In other words, the science and technology are only half of
the equation.

Minimum wage goes up in 6 provinces, but some advocates say workers need more | CBC News: Six
provinces — Ontario, Saskatchewan, Manitoba, Nova Scotia, New Brunswick
and Newfoundland and Labrador — hiked their minimum wage effective last
Saturday.

The flurry of increases come as the cost of living
soars, with Canada’s annual inflation rate reaching a nearly 40-year
high in recent months.

The minimum wage is now $15.50 in Ontario,
$13 in Saskatchewan, $13.50 in Manitoba, $13.60 in Nova Scotia, $13.75
in New Brunswick and $13.70 in Newfoundland and Labrador.

Canadian Households Likely to Face $25B in Climate Losses in 2025: That
total will skyrocket to $78 to $101 billion per year by 2050, depending
on future greenhouse gas emissions, $391 to $865 billion per year by
the end of the century, the institute says in, Damage Control, a macroeconomic study of how climate will affect Canada’s GDP.

The
report calls for urgent investments in climate adaptation, with each
dollar spent today bringing a return of $13 to $15 over the long term.

“As
climate change impacts intensify, life will become even less affordable
as economic growth slows, governments will be forced to raise taxes or
cut services to pay for climate disasters, job losses will be measured
in the millions, and goods will become more costly as supply chains are
disrupted,” the CCI writes.