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Briefing

Expert panel report recommends ‘super tax’ to incentivize Canadians to make green investments

The four-person panel is asking the federal government to create a tax incentive that would let Canadians deduct more than 100 per cent of retirement contributions in investments that help reduce greenhouse-gas emissions. Among the report’s 15 recommendations, the panel is asking regulators to ensure companies comply with global standards for reporting their businesses’ impact on the climate and the climate’s impact on their bottom line; if they don’t, they need to explain why those standards aren’t relevant to their business. The federal government, which formed the panel, did not say whether it would follow the recommendations. “We look forward to working with the finance community and all Canadians to help position us as a global low-carbon leader," said Finance Minister Bill Morneau. (The Logic)

China’s industrial output growth cools to 17-year low amid trade tensions

Industrial output grew 5.0 per cent in May, compared to a year earlier, according to data from the National Bureau of Statistics released Friday, missing analysts’ expectations of 5.5 per cent and well below April’s 5.4 per cent. Hours after the weak data, China’s central bank announced 300 billion yuan (US$43 billion) in fresh support for smaller banks, though analysts from Nomura and the Australia and New Zealand Banking Group expect more sweeping measures in coming months if the U.S.-Sino trade dispute intensifies. (South China Morning Post)

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