The carbon tax will increase by $15 per tonne until it reaches $170 per tonne.
The higher carbon tax will cost Ontario more than 86,000 jobs and cause the province’s economy to contract by 1.9 per cent.
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.
The Trudeau government’s plan includes a target of $170 per tonne.
Ottawa raised $2.6 billion in revenue while only $1.97 billion—or 76 per cent—was rebated to households.
The introduction of carbon-pricing should trigger the repeal of emissions-related regulations.
So-called "trade-exposed” industries are the least able to pass on higher costs to consumers.