Scrap the second carbon tax: Taxpayers Federation
“Prime Minister Justin Trudeau can make life more affordable and help our economy by scrapping his carbon taxes”
Canadian Taxpayers Federation Franco Terrazzano, CTF Federal Director, Bio and Archives--September 17, 2024
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OTTAWA, ON: The Canadian Taxpayers Federation is calling on the federal government to scrap its second carbon tax following the release of government documents showing it will cost the Canadian economy $9 billion by 2030.
“This is another government report that shows carbon taxes are a big drag on the economy that Canadians can’t afford,” said Franco Terrazzano, CTF Federal Director. “The second carbon tax alone will cost average families hundreds and even thousands of dollars.”
The second carbon tax is embedded within federal fuel regulations, which took effect July 1, 2023.
The regulations require producers to reduce the carbon content of their fuels. If they can’t meet the requirements, they must purchase credits, increasing costs that are passed onto Canadians purchasing gasoline or diesel.
According to government documents, in 2030, the second carbon tax “will result in an overall GDP decrease of up to $9 billion.”
The documents were tabled by Environment and Climate Change Canada in the House of Commons in response to an order paper question filed by Conservative MP John Barlow (Foothills).
Previous analysis from Environment and Climate Change Canada shows the first carbon tax (including industrial) will cost the Canadian economy $30 billion by 2030.
The Parliamentary Budget Officer estimated the second carbon tax will cost the average household between $384 and $1,157 in 2030 depending on the province.
“Canada’s own emissions are not large enough to materially impact climate change,” according to the PBO report.
The PBO also estimated the second carbon tax will increase the price of gasoline by up to 17 cents per litre and the price of diesel up to 16 cents per litre by 2030.
“Prime Minister Justin Trudeau can make life more affordable and help our economy by scrapping his carbon taxes,” Terrazzano said.
For more information or to schedule interviews, please contact:
Franco Terrazzano
CTF Federal Director
Phone: 403.918.3532
Email: fterrazzano@taxpayer.com
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