The carbon tax imposed by the federal government will put most Canadians under financial stress, and it will only become worse in years to come, says a new report by the Parliamentary Budget Officer (PBO). Released on March 24, the PBO report concluded that by the time the federal carbon tax reaches $170 per tonne in 2030, most families from four provinces will see a “net loss” to their savings. “Under the Government’s HEHE [A Healthy Environment and A Healthy Economy] plan, most households in Alberta, Saskatchewan, Manitoba, and Ontario will see a net loss resulting from federal carbon pricing,” said PBO Yves Giroux in a statement Thursday. “That is, the costs they face—including the federal carbon levy, higher GST, and lower incomes—will exceed the Climate Action Incentive rebate they receive.” In September 2021, federal taxes and rebates were mandated in the four provinces over their refusal to implement a …
Most Canadians Will Incur ‘Net Loss’ From Federal Carbon Tax: PBO Report
March 25, 2022
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