PwC Federal Budget instant reaction: new 'green' initiatives help promote
clean energy investments and technologies

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

Budget 2010 introduced certain measures today to drive Canada's position as an energy leader through encouragement of investment in energy projects and clean energy generation. The budget also includes measures to preserve Canada's natural heritage through environmental protection in the North and further protection of the Great Lakes.

Notable actions include:

    
      -  Establishing the Next Generation Renewable Power Initiative, with
         $100 million over the next four years to support the development,
         commercialization and implementation of advanced clean energy
         technologies in the forestry sector.
      -  Modernizing the regulatory system for project reviews, and
         supporting consultation with Aboriginal peoples on major resource
         projects.
      -  A 50% declining balance capital cost allowance for green energy
         including heat recovery and distribution systems and other clean
         energy generation assets.
    

A PwC Budget Flash with additional Budget highlights has been issued today followed by a detailed Budget Memo. 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]