In 2023, the tax expenditure on coal for consumers in Canada was approximately unchanged. The forecast from 2024 to 2028 shows a declining trend, moving from 20.0 thousand US dollars in 2024 to 15.0 thousand US dollars in 2028, with a consistent decline through the forecasted years. The expected year-on-year percentage decrease registers at around 10% in the earlier years of this forecast, pointing to a decrease in reliance on coal.
Future trends to watch for include:
- Increasing government policies favoring renewable energy sources may continue to influence tax expenditure reductions on coal.
- The development of cleaner technologies and shifts in energy consumption patterns could further impact these forecasts.
