The harmful impacts of the carbon tax are hitting Canadians in their wallets.
The federal government’s heating oil exemption has raised the ire of western provinces.
In 2030, the new regulations, combined with the carbon tax, will increase the cost of gasoline by up to 54 cents.
The carbon tax will also indirectly increase the price of groceries by increasing the cost of transportation.
According to the PBO, 60 per cent of households in Alberta, Ontario, Saskatchewan and Manitoba will pay more in carbon taxes than what they receive in rebates.
Cutting emissions by 25 per cent would impose a permanent cost of about 2.0 per cent of GDP.
A tax on businesses is paid by people who own the businesses.
Climate targets are irrelevant when determining whether a carbon tax is good policy.
The Trudeau government’s plan includes a target of $170 per tonne.