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Feds announce LNG tax breaks

The federal government has announced tax breaks to help spur growth in the liquefied natural gas industry.

Prime Minister Stephen Harper made the announcement at Kwantlen Polytechnic this afternoon.

Harper says the government intends to establish a capital cost allowance rate of 30 per cent for equipment used in liquefying natural gas and 10 per cent for buildings at LNG facilities.

The tax breaks will be available for capital assets acquired after today and before 2025.

The Prime Minister says the measure will allow companies investing in LNG to create jobs and economic growth while recovering their investment faster.

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