The forecast data for tax expenditure on all fossil fuels for electricity generation in Canada shows a gradual increase from 2024 to 2028, with values rising from $7.4 million to $7.51 million. In 2023, the expenditure was approximately $7.4 million. The year-on-year variation remains moderate, illustrating a stable growth trend. The compound annual growth rate (CAGR) over the next five years is minimal, indicating a very slow upward trend.

Future trends to watch for:

Potential regulatory changes as Canada aims to reduce carbon emissions may impact future tax expenditure on fossil fuels.
A shift towards renewable energy sources could slow down the growth of tax expenditures on fossil fuels.
Technological advancements in energy efficiency might influence the expenditure levels.