Canada’s Finance Minister Chrystia Freeland has announced that the soon-to-be-released federal budget will include “serious investments” in the “clean economy”. These investments in building Canada’s clean economy, she said, would be “smart and strategic”.
In mid-March, Volkswagen announced it was building its first North American battery factory in St. Thomas, Ontario. Stellantis and LG Energy Solution have also partnered on a new battery plant in Canada. “From clean energy to clean technology, to battery manufacturing, to electric vehicles, we can and we are becoming a global leader in the growing clean economy,” said Ms Freeland
Canada’s economic freedom score is 73.7, making its economy the 16th freest in the 2023 index. Canada is ranked first among 32 countries in the Americas region. The foundations of economic freedom are strong and the economy has emerged relatively unscathed from the global slowdown. Canada is the world’s second-largest country by land area and its leading sectors include automotive and other manufactures, forest products, minerals and petroleum, of which approximately three-quarters of Canada’s exports are to the USA.