Measures for businesses

Enhancement of the FAIRE program

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The government is enhancing the FAIRE program to enable major new investments to be made rapidly by the private sector.

• A total of $150 million is being injected into the program envelope for the current fiscal year, and $200 million for fiscal 2002-2003, thereby raising the envelope to $400 million and $300 million, respectively. thereby raising the envelope for these years to $400 million and $300 million, respectively. The minimum threshold for eligible investment projects is being lowered from $10 million to $5 million to broaden application possibilities.
   
• Henceforward, businesses may be eligible for both the program and the tax measures in effect, in order to further stimulate the implementation of major projects. For example, businesses that qualify for a tax holiday for major projects may still take advantage of the provisions of the FAIRE program. This measure will apply to both major projects and regional projects that are given tax incentives.
   
• The program, which was to end on March 31, 2003, is being extended to 2004-2005.
   
• The FAIRE program can now be used to facilitate funding of new wind-power projects. As a result, it will be possible to support investment in the regions and contribute to the fight to reduce greenhouse gas emissions, thereby improving our environment.

To find out more PDF documents Budget Speech Additional Information on the Budgetary Measures Section 2 - Expenditure Measures and Section 3 - Financial Impact of the Fiscal and Budgetary Measures