The top personal income tax rate now exceeds 50 per cent in seven provinces.
Manitoba’s premier says the $50 federal carbon price would endanger his province’s economy.
Canada’s forecasted production of 2.8 million barrels a day this year is down 6.7 per cent from last year’s projection.
The average Canadian family will pay 43.6 per cent of its income in taxes.
The theoretical or “ideal” carbon-pricing system has never been implemented.
Capital investment in Canada’s oil and gas sector declined by an estimated 44 per cent from 2014 to 2017.
According to the PBO, provincial cooperation with the federal carbon floor may reduce the size of Canada's economy by 0.5 per cent in 2020.
The federal carbon-price scheme raises Alberta’s carbon tax to $50 per tonne by 2022.
In 2017 the government in Winnipeg unveiled its Climate and Green Plan, which includes a $25 per tonne carbon tax.
The economics literature is filled with analyses showing the superiority of carbon taxes—alone—over regulations.