Last year the Canadian economy grew by 1.1 per cent compared to 3.3 per cent in the United States.
national carbon tax
Governments heavily subsidize wind and solar power businesses who receive a 30 per cent investment tax credit.
In fact, a major obstacle to emission reductions in Canada is our tax burden.
The carbon tax increase will add an additional three cents per litre of gasoline at the pumps.
The harmful impacts of the carbon tax are hitting Canadians in their wallets.
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.