Federal Carbon Taxes to Raise 33% by beginning of April
Beginning April 1st, the carbon tax will increase by 33% on April 1, up from $30 per ton of industrial greenhouse gas emissions to $40. This hike will increase the federal carbon tax charge for gasoline to 8.8 cents per litre.
Trudeau has planned to raise the tax by $15 per tonne annually starting in 2023, until it reaches $170 per tonne in 2030. That will increase the total federal carbon charge on gasoline to almost 38 cents per litre.
In addition to gasoline , the carbon taxes currently applies to 21 other fossil fuels, including natural gas (which is used for home heating, light and heavy fuel oil), propane and aviation fuel.
The carbon tax is currently in place in Ontario, Alberta, Manitoba and Saskatchewan, affecting about 21.5 million people; 57% of all Canadians. The other provinces have federally approved carbon-pricing schemes.
According to the office of the Parliamentary Budget Officer [OPBO] , the carbon tax will raise $235 million for the government this year.
Although Trudeau has said that 80% of households are better off through rebates known as climate action incentives, the OPBO isn’t so sure. Yves Giroux, the incumbent PBO, has said that once the impact of GST and provincial sales tax is placed on top of the carbon tax, “actual net transfers to households decrease.”
The 2030 estimate of $170 dollars on the ton may be a light estimate. In order for the government to reach its Paris Agreement goals, an increase up to $239 per tonne may be needed.
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