PwC Federal Budget instant reaction: Forestry industry receives $100 million
in support over next four years

TORONTO, March 4 /CNW/ - PwC tax specialists commented today:

The forestry sector in Canada represents an important economic industry in many regions, but faces a number of challenges in terms of competition and structural changes within the industry. On the heels of the support through the Economic Action Plan, the Government is taking additional action to build by establishing the Next Generation Renewable Power Initiative with $100 million of support over the next four years for the development, commercialization and implementation of advanced clean energy technologies in the forestry sector.

Managed by Natural Resources Canada, the Government believes this will help create a more sustainable forestry sector while contributing to Canada's Global leadership as a clean energy producer.

A PwC Budget Flash with additional Budget highlights has been issued today followed by a detailed Budget Memo later this evening. For more information and detailed commentary on the Budget please contact, Kiran Chauhan, [email protected], 416-947-8983 or visit www.pwc.com/ca/budget.

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For further information: Kiran Chauhan, [phone], [email protected]