Alberta
Federal emissions plan will cost Albertans dearly

A new report finds every Albertan will have $3,300 less for essentials if the ineffective federal emissions reduction plan is left in place.
For years, the federal government has been targeting net zero by 2050 and putting in place an aggressive approach to reduce emissions as outlined in its Emissions Reduction Plan. This scheme, which included the carbon tax, emissions cap, electricity regulations and other initiatives, has drawn strong criticism from provinces, industry, business groups and Canadians.
A report by the Conference Board of Canada, commissioned by Alberta’s government, sheds new light on the negative impacts of the federal government’s punitive environmental approach. By 2050, Alberta’s GDP will shrink by 11 per cent, employment will decline by four per cent and the average person will have $3,300 less in disposable income – while Canada still misses its emissions target.
Alberta’s government is calling on the next federal government to permanently abandon the carbon tax, emissions cap and the entire flawed federal approach. Instead, the federal government should focus on reducing emissions without hurting the economy or making life harder for Albertan and Canadian families.
“These findings should send a message to whoever ends up being the next federal government. Our province remains firmly committed to protecting the environment and creating a future for our children, but that can’t be achieved by trampling on Canadians’ livelihoods. Ottawa has offered nothing but penalties and vague rhetoric. Instead of meaningful incentives to reduce emissions, we get carbon taxes, a production cap, and layers and layers of costly regulations, all burdening families and workers who are already stretched thin.”
The Conference Board of Canada assessed how Alberta businesses and consumers will react to the federal policies based on the costs and effectiveness of the technologies necessary to meet the federal targets.
It found that Alberta will be disproportionately impacted by the current federal plan, experiencing a deep recession in 2030 and subsequently slower economic growth going forward. According to the report, compared to the 2050 baseline scenario, Alberta’s GDP, jobs, revenue and incomes will significantly decline because of federal emissions policies:
- GDP: Projected to be 11 per cent lower
- Employment: Projected to be 4.1 per cent lower
- Government revenues: Projected to be 9.3 per cent lower
- Real (price adjusted) incomes: Down $3,300 (or 7.3 per cent) per person
Nationally, real GDP in Canada is estimated to fall 3.8 per cent in 2050. Canadian oil and gas production in 2050 would be 37 per cent lower, mostly due to the proposed federal oil and gas production cap.
On March 12, the independent Parliamentary Budget Officer (PBO) – following on reports from S&P Global, Deloitte Canada and the Conference Board of Canada – released a scathing report outlining the negative impacts of the proposed federal oil and gas emissions cap. According to the report, the PBO estimates that the federal government’s cap alone will in fact slash oil and gas production by almost 5 per cent, all while these required production cuts reduce nominal GDP by $20.5 billion in 2032.
The PBO report also suggests this policy will reduce economy-wide employment in Canada by 40,300 jobs and full-time equivalents by 54,400 in 2032.
Alberta’s government continues to call for the next federal government to focus on policies that grow the economy, while working with provinces and respecting the Canadian constitution.
Quick facts:
- The Conference Board of Canada scenarios assume oil and gas production grow to 9.7 million barrels of oil equivalent in 2050 with peak oil production of 9.9 million barrels per day in 2042, reflecting continued global oil demand.
- Canada’s employment is estimated to be 2.6 per cent lower, consumer prices 2.5 per cent higher, and real GDP 3.8 per cent lower in 2050 under the federal plan (compared to the baseline scenario).
- According to the report, Canada’s electricity sector would need to reduce emissions by 376 per cent below baseline in 2050, through significant investment in carbon capture and storage, to meet the federal net-zero commitment.
- The Conference Board of Canada’s realistic scenario assumes carbon capture and storage (CCS) will be deployed at a slower rate than is generally assumed by the federal government.
- Canada’s Emission Reduction Plan, released in March 2022, is a roadmap and its policies include the carbon tax, Clean Electricity Regulation, Clean Fuel Regulation, federal oil and gas emissions cap, methane reduction targets, zero emission vehicle mandates, and various other subsidy programs.
- The Conference Board of Canada’s report on assessing the impact of the federal Emissions Reduction Plan was completed prior to U.S. President Donald Trump’s administration and does not include the impacts of potential U.S. tariffs.
- U.S. tariffs have further illustrated the importance of market access to Canada’s energy security.
Related information
Agriculture
Lacombe meat processor scores $1.2 million dollar provincial tax credit to help expansion

Alberta’s government continues to attract investment and grow the provincial economy.
The province’s inviting and tax-friendly business environment, and abundant agricultural resources, make it one of North America’s best places to do business. In addition, the Agri-Processing Investment Tax Credit helps attract investment that will further diversify Alberta’s agriculture industry.
Beretta Farms is the most recent company to qualify for the tax credit by expanding its existing facility with the potential to significantly increase production capacity. It invested more than $10.9 million in the project that is expected to increase the plant’s processing capacity from 29,583 to 44,688 head of cattle per year. Eleven new employees were hired after the expansion and the company plans to hire ten more. Through the Agri-Processing Investment Tax Credit, Alberta’s government has issued Beretta Farms a tax credit of $1,228,735.
“The Agri-Processing Investment Tax Credit is building on Alberta’s existing competitive advantages for agri-food companies and the primary producers that supply them. This facility expansion will allow Beretta Farms to increase production capacity, which means more Alberta beef across the country, and around the world.”
“This expansion by Beretta Farms is great news for Lacombe and central Alberta. It not only supports local job creation and economic growth but also strengthens Alberta’s global reputation for producing high-quality meat products. I’m proud to see our government supporting agricultural innovation and investment right here in our community.”
The tax credit provides a 12 per cent non-refundable, non-transferable tax credit when businesses invest $10 million or more in a project to build or expand a value-added agri-processing facility in Alberta. The program is open to any food manufacturers and bio processors that add value to commodities like grains or meat or turn agricultural byproducts into new consumer or industrial goods.
Beretta Farms’ facility in Lacombe is a federally registered, European Union-approved harvesting and meat processing facility specializing in the slaughter, processing, packaging and distribution of Canadian and United States cattle and bison meat products to 87 countries worldwide.
“Our recent plant expansion project at our facility in Lacombe has allowed us to increase our processing capacities and add more job opportunities in the central Alberta area. With the support and recognition from the Government of Alberta’s tax credit program, we feel we are in a better position to continue our success and have the confidence to grow our meat brands into the future.”
Alberta’s agri-processing sector is the second-largest manufacturing industry in the province and meat processing plays an important role in the sector, generating millions in annual economic impact and creating thousands of jobs. Alberta continues to be an attractive place for agricultural investment due to its agricultural resources, one of the lowest tax rates in North America, a business-friendly environment and a robust transportation network to connect with international markets.
Quick facts
- Since 2023, there are 16 applicants to the Agri-Processing Investment Tax Credit for projects worth about $1.6 billion total in new investment in Alberta’s agri-processing sector.
- To date, 13 projects have received conditional approval under the program.
- Each applicant must submit progress reports, then apply for a tax credit certificate when the project is complete.
- Beretta Farms has expanded the Lacombe facility by 10,000 square feet to include new warehousing, cooler space and an office building.
- This project has the potential to increase production capacity by 50 per cent, thereby facilitating entry into more European markets.
Related information
Alberta
Alberta Next: Alberta Pension Plan

From Premier Danielle Smith and Alberta.ca/Next
Let’s talk about an Alberta Pension Plan for a minute.
With our young Alberta workforce paying billions more into the CPP each year than our seniors get back in benefits, it’s time to ask whether we stay with the status quo or create our own Alberta Pension Plan that would guarantee as good or better benefits for seniors and lower premiums for workers.
I want to hear your perspective on this idea and please check out the video. Get the facts. Join the conversation.
Visit Alberta.ca/next
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