In this video interview, Franco Terrazzano, Federal Director, Canadian Taxpayers Federation, discusses the impact of the second carbon tax on consumers and businesses in Canada.
OTTAWA, ON: The Canadian Taxpayers Federation is calling on the federal government to scrap its impending second carbon tax following today’s Parliamentary Budget Officer report.
“Canadians are already struggling to afford gasoline and groceries and the last thing we need is another carbon tax that makes life more expensive,” said Franco Terrazzano, Federal Director of the CTF. “The PBO is clear: the second carbon tax will cost families hundreds and even thousands of dollars.”
The second carbon tax is embedded within federal clean fuel regulations set to take effect on July 1, 2023. The regulations will require producers to reduce the carbon content of their fuels. If they can’t meet those requirements, they’ll have to pay the second carbon tax. The second carbon tax is in addition to the current carbon tax. There are no rebates with the second carbon tax.
Today’s PBO report estimated the second carbon tax will cost the average household between $384 and $1,157 in 2030 depending on the province. The table at the end of this news release breaks down the cost for the average household by province.
The second carbon tax will increase the price of gasoline by up to 17 cents per litre in 2030.
The second carbon tax is “regressive for households” because “lower income households generally spend a larger share of their income on transportation and other energy-intensive goods and services compared to higher income households.”
The PBO also notes that, “Canada’s own emissions are not large enough to materially impact climate change.”
“Prime Minister Justin Trudeau must do the right thing and scrap his carbon taxes,” Terrazzano said.
Cost of second carbon tax 2030 for average household
|Prince Edward Island||$569|
|Newfoundland and Labrador||$850|
(Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald, covering sports, crime, politics, health, faith, city and breaking news, and business. He works as well as a freelance writer for several national publications and as a consultant in communications and media relations/training. Mario was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list)
Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.
With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience with over 120,000 downloads and thousands of subscribers on all our social channels and YouTube. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story.