Carbon Tax: Latest News

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31.03.2022 / 02:47

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The federal carbon tax is set to rise April 1. How will that affect gas prices?

Gas prices in some provinces are set to rise Friday as the federal carbon tax increases.

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Should carbon price hikes go ahead amid high cost of living? Experts say yes

carbon price should go ahead as planned, two economists say, even as consumers across Canada are struggling amid the rising cost-of-living and feeling the impacts of a Bank of Canada rate increase.In an interview with The West Block‘s Mercedes Stephenson, economists pointed to the wildfire smoke engulfing large parts of the continent as a reminder that the climate crisis is still unfolding.“I think at a time when the country is burning and we’re not sure what the future is existentially, we need to do something very serious about climate change,” Armine Yalnizyan, Atkinson Fellow on the Future of Workers, said.She added, “And a carbon tax is something that had had at one point cross-party support. So, let’s just do something.

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Canada’s carbon pricing is going up again. What it means for your wallet

carbon price is set to go up starting Saturday.The fuel charge is rising by 30 per cent from $50 per tonne of emissions to $65 on April 1. This will translate to an increase of roughly three cents per litre for gas, reaching a total of 14 cents per litre.The scheduled increase will apply in Ontario, Manitoba, Saskatchewan, Alberta, Yukon and Nunavut.Meanwhile, the carbon price jump will go into effect in Newfoundland and Labrador, Nova Scotia, and Prince Edward Island on July 1.

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Canada’s carbon tax is constitutional, Supreme Court rules

Supreme Court of Canada on Thursday has given the federal government the constitutional green light to impose a carbon tax on the provinces.The decision was the culmination of years of disputes between some provinces and the federal government over the Greenhouse Gas Pollution Pricing Act (GGPPA).

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

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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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0