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OECD Economic Surveys: Canada 2008

image of OECD Economic Surveys: Canada 2008

OECD's periodic survey of Canada's economy.  After two chapters assessing the current economic situation and policy responses to new terms of trade, ageing, and climate change, additional articles are presented on tax reform, long-term sustainability in the energy sector, and modernising Canada's agricultural policies.

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Achieving long-term sustainability of the energy sector

Energy represents a major sustainable-development challenge for Canada. In the short term, labour shortages and infrastructure bottlenecks are likely to hinder energy developments and need to be addressed. In addition, provincial fiscal management could be improved by adopting prudent allocation and withdrawal rules of revenues from non-renewable resources to and from a long-term fund. Eventually the main challenge will be to curb greenhouse gas emissions (GHGs), despite the rapid expansion of high emitting sectors. The effectiveness of environmental policies could be enhanced by better federal-provincial coordination. Efforts should be concentrated on designing and implementing an emissions-trading scheme compatible with corresponding systems abroad. Finally, effective and efficient systems of regulation and taxation are essential to facilitate the timely realisation of energy supply plans.

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