A study by the University of Waterloo suggests that Canada’s carbon pricing scheme is creating large financial risks, especially for the resource sector. The study, titled Carbon Costs and Credit Risk in a Resource-Based Economy: Carbon Cost Impact on the Z-Score of Canadian TSX 260 Companies and recently published in the Journal of Management and…
Canada’s Carbon Pricing Poses a $256 Billion Financial Risk, Study Finds
Federal Climate Minister Admits Carbon Tax Will See Average Household Pay More Despite Rebates
Canada’s environment and climate change minister, Steven Guilbeault, admitted that Canadian households will pay more because of carbon taxes, even after rebates. He made the admission on April 2 in an interview with CTV’s Question Period, stating, “When you look at the details, the better off Canadians, richer Canadians, in the jurisdictions where the federal…
Environment Minister Admits Carbon Tax Will See ‘Average Household Pay More’ Despite Rebates
Canada’s environment and climate change minister, Steven Guilbeault, admitted that Canadian households will pay more because of carbon taxes, even after rebates. “If you do the average, yeah, it’s true, it’s going to cost more money to people, but the people who are paying are the richest among us, which is exactly how the system…
Poilievre’s Home Heating Fuel Tax Exemption Motion Defeated in House
Conservative Leader Pierre Poilievre’s motion to exempt home heating fuel from the federal carbon tax has been defeated by MPs in a House of Commons vote on Oct. 24. The vote was defeated 116-202, with the majority of Liberal, NDP, and Bloc Québécois MPs voting against it, while all the Conservative MPs taking part in…
Average Canadian Family Paid 43% of Income on Taxes in 2021: Study
The average Canadian family spent over 40 percent of its income on taxes in 2021—more than food, housing, and clothing combined—according to a new study by the Fraser Institute. Published on Sept. 21, the study [pdf] found that while the average Canadian family earned an income of $99,030 in 2021, a total of $42,547 was used…
Carbon Tariffs: A Continuation of President Trump’s China Policy
Commentary Imagine this: an America First proposal that brings manufacturing jobs back to the United States, delivers a haymaker to China’s economy, and in the process, restores a sliver of our own integrity in Joe Biden’s America. Sounds like Donald Trump’s vision, doesn’t it? Unfortunately, not all of the traditional GOP establishment is rowing in…
Albertans Set to Receive First Carbon Tax Rebate This Week
Albertans will see some extra money coming into their bank accounts starting today as the federal government releases the first batch of 2022 carbon tax returns, according to the Canadian Taxpayers Federation (CTF). The first round of the quarterly-based Climate Action Incentive (CAI) rebate starts with a “double-up” payment that returns proceeds from the first two…
China Further Loses Price Advantage as EU Votes to Impose a Carbon Tax
After a two-week hiatus, the European Parliament finally passed the revised Carbon Border Adjustment Mechanism (CBAM). Consequently, China further loses its price advantage in exporting carbon-intensive products to Europe, a second blow to the country’s exports after 32 nations stopped preferential tariff treatment at the end of 2021. CBAM aims at ensuring an equivalent carbon…
Tax Accounts for Nearly 40 Percent of Gas Prices Canadians Pay: Taxpayer Rights Group
With soaring energy prices weighing down on Canadian motorists, the governments’ hidden gas taxes are making their struggles even harder, a taxpayers rights group says. The Canadian Taxpayer Federation (CFT) said in its recently released 2022 Gas Tax Honesty Report that taxes cost 55.1 cents per litre of gasoline across the country, making up to 38 percent…
Gwyn Morgan: Canada Harming Own Economy With Carbon Tax While Importing High Carbon Footprint Chinese Products
Canada is crippling its economy and damaging its own competitiveness by imposing carbon taxes on Canadian manufacturing while importing products with massive carbon footprints from China without imposing similar taxes, says Gwyn Morgan, one of Canada’s foremost business executives. “If you’re taxing something that’s already as clean as it could get, all you’re doing is increasing…
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