The harmful impacts of the carbon tax are hitting Canadians in their wallets.
national carbon tax
The federal government’s heating oil exemption has raised the ire of western provinces.
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.
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.