The forecasted tax expenditure on natural gas in Canada shows a declining trend from 2024 to 2028. The value in 2023 stood at a higher level than the 2024 forecast of $506.16 million (constant 2020 US dollars). From 2024 to 2028, a consistent year-on-year decrease is observed: approximately 6% in 2025, 6.4% in 2026, 6.8% in 2027, and 7.2% in 2028. Over the five-year period, the compound annual growth rate (CAGR) illustrates a steady decline in tax expenditure.
Future trends to watch include policy shifts towards renewable energy and decarbonization efforts, which could further reduce natural gas consumption and tax expenditures. Monitoring governmental regulations and technological advancements in energy efficiency will be crucial for understanding impacts on the natural gas sector.
