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Budget 2024: 5 years worth of carbon rebates on the way to businesses

Rebates worth $2.5B included in budget as Liberals stand by their carbon plan
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Deputy Prime Minister and Minister of Finance, Chrystia Freeland listens to a speaker during a news conference for a housing announcement in Vancouver, B.C., on March 27, 2024. THE CANADIAN PRESS/Ethan Cairns

Small- and medium-sized businesses are set to receive billions of dollars in carbon price rebates long promised by the Liberal government.

The federal budget says five years of rebates worth $2.5 billion will be sent out as the Liberals continue to stand by their carbon pricing system despite political pressure.

More than 600,000 businesses can expect to receive the money as a refundable tax credit later this year as long as their 2023 tax return is filed by mid-July.

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