Cutting emissions by 25 per cent would impose a permanent cost of about 2.0 per cent of GDP.
If you think we need to reduce CO2 emissions, use a single targeted policy to reduce CO2 emissions.
The plan introduces a new package of regulations including a renewable gas mandate.
The plan includes a “carbon price” between $20 per tonne and $50 per tonne on fuels.
A $170 per tonne carbon tax will cost the province an estimated 2,200 jobs.
A tax on businesses is paid by people who own the businesses.
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.
Due to the higher tax, the province will lose an estimated 30,544 jobs by 2030.
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.