It’s increasingly clear Justin Trudeau’s national carbon tax is a boondoggle waiting to happen.
It’s going to hike the cost for regular Canadians on everything from gasoline and home heating to groceries and the cost to run hockey rinks. It will disproportionately impact low-income families.
As a recent Postmedia story detailed, the revenues from a national carbon tax could hit $35 billion per year.
Keep in mind that staggering sum is based on a tax of $50 per tonne, which is what Prime Minister Justin Trudeau is mandating the provinces introduce by 2022.
Yet some academics and activists are lobbying for the price to be $100 per tonne and even higher.
A carbon tax will discourage investment in the oil sector and undermine economic growth, particularly given the U.S., our largest trading partner, has no plans to introduce a carbon tax there.
On the other hand, some argue the tax could be made revenue neutral — that revenue could be returned to taxpayers.
There’s good reason to be skeptical that will happen. Manitoba’s “revenue neutral” carbon tax dings average households to tune a couple hundred dollars a year and corporations are already lobbying for a share of the revenue in exchange for good behaviour.
The more likely reality is our cost of living will rise and carbon revenue will fuel green programs that politically help the government as much or more than they help the environment.
If Trudeau has nothing to hide, why won’t his government release a Finance Canada report breaking down the costs of a carbon tax on different income levels across the country?
The Information Commissioner of Canada has opened an investigation to determine if the government broke the Access to Information Act by withholding this information.
Our guess is Trudeau knows if word gets out how harmful this tax will be, Canadians will be furious.