Canada county Ontario Pollution Carbon Tax Canada county Ontario

Canada owes $200M across 3 provinces after underestimating carbon tax revenue

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globalnews.ca

carbon tax during the first year of the program.Finance Canada thought the new price on pollution would bring in about $2.3 billion in 2019.

When the final tallies were counted however, the program raised $2.42 billion.By law, all revenued from the carbon price are to be returned to the province in which they were raised, with 10 per cent going into funds to help smaller businesses, schools, hospitals and municipal governments cut their own emissions and 90 per cent going to families through income tax rebates.The government didn’t meet that threshold in Ontario, Manitoba or New Brunswick.

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