Cutting emissions by 25 per cent would impose a permanent cost of about 2.0 per cent of GDP.
national carbon tax
The plan includes a “carbon price” between $20 per tonne and $50 per tonne on fuels.
A tax on businesses is paid by people who own the businesses.
Combined provincial, federal deficits will grow by about $22 billion annually due to carbon tax hike
A $170 carbon tax will also cost the average Canadian worker $1,800 in foregone income.
A $50 per tonne carbon tax is not enough to significantly change consumer behaviour such as gasoline consumption.
Canadians will pay a price for our reduced competitiveness—in the form of lower employment and/or investment.
We don’t have a lot in economics, but we do have prices and the price system.
The federal carbon tax will reach $50 per tonne in 2022.
The federal government’s carbon tax comes into effect today, but what will it accomplish?