Ottawa, ON: The Canadian Taxpayers Federation is sounding the alarm about rising carbon taxes as a new Parliamentary Budget Officer report shows the Trudeau government’s carbon tax plan will lead to lower household income and smaller GDP growth.
“The Trudeau government claimed that its carbon tax scheme would benefit families economically, but the new PBO report shows that the government simply wasn’t telling the truth,” said CTF Ontario Director Jay Goldberg. “The report shows that most households will be paying hundreds of dollars more each year in carbon taxes than they’ll get back in rebates.
While the Trudeau government originally said that “families are going to be better off” because of the carbon tax, by the time the carbon tax is fully implemented, households will be losing as much as $845 annually even after factoring in government rebates.
The report also shows GDP growth will be 1.3 per cent lower in 2030 because of the carbon tax and that labour income will be as much as 2.6 per cent lower.
“The carbon tax is bad for families, plain and simple,” said Goldberg. “The Trudeau government’s plans will hurt Canadians and hinder economic growth, even though evidence shows carbon taxes don’t lower emissions. It’s clearer than ever before that the federal government needs to scrap its carbon tax.”