Connect with us
[bsa_pro_ad_space id=12]

Economy

Scrap the second carbon tax: Taxpayers Federation

Published

2 minute read

Author: Franco Terrazzano

The Canadian Taxpayers Federation is calling on the federal government to scrap its second carbon tax following the release of government documents showing it will cost the Canadian economy $9 billion by 2030.

“This is another government report that shows carbon taxes are a big drag on the economy that Canadians can’t afford,” said Franco Terrazzano, CTF Federal Director. “The second carbon tax alone will cost average families hundreds and even thousands of dollars.”

The second carbon tax is embedded within federal fuel regulations, which took effect July 1, 2023.

The regulations require producers to reduce the carbon content of their fuels. If they can’t meet the requirements, they must purchase credits, increasing costs that are passed onto Canadians purchasing gasoline or diesel.

According to government documents, in 2030, the second carbon tax “will result in an overall GDP decrease of up to $9 billion.”

The documents were tabled by Environment and Climate Change Canada in the House of Commons in response to an order paper question filed by Conservative MP John Barlow (Foothills).

Previous analysis from Environment and Climate Change Canada shows the first carbon tax (including industrial) will cost the Canadian economy $30 billion by 2030.

The Parliamentary Budget Officer estimated the second carbon tax will cost the average household between $384 and $1,157 in 2030 depending on the province.

“Canada’s own emissions are not large enough to materially impact climate change,” according to the PBO report.

The PBO also estimated the second carbon tax will increase the price of gasoline by up to 17 cents per litre and the price of diesel up to 16 cents per litre by 2030.

“Prime Minister Justin Trudeau can make life more affordable and help our economy by scrapping his carbon taxes,” Terrazzano said.

Todayville is a digital media and technology company. We profile unique stories and events in our community. Register and promote your community event for free.

Follow Author

Business

Canadian Businessman Kevin O’Leary Proposes ‘Erasing The Border’ Between US, Canada To Combat China

Published on

 

From the Daily Caller News Foundation

By Jason Cohen

Canadian businessman Kevin O’Leary proposed on Thursday that the United States and Canada eliminate the border between them to form a united front against China and Russia.

Trump suggested in a Christmas Day Truth Social post that Canada should become the United States’ 51st state, which the president-elect asserted would boost the northern country’s economy and provide it with military security. O’Leary, on “The Big Money Show,” said the potential economic and security benefits of the countries uniting are attractive prospects.

WATCH:

“There’s 41 million Canadians, basically the population of California, sitting on the world’s largest amounts of all resources, including the most important, energy and water. Canadians over the holidays the last two days have been talking about this. They want to hear more,” O’Leary said. “And so there’s obviously a lot of issues and more details, but what this could be is the beginning of an economic union. Think about the power of combining the two economies, erasing the border between Canada and the United States and putting all that resource up to the northern borders where China and Russia are knocking on the door.”

“So secure that, give a common currency, figure out taxes across the board, get everything trading both ways, create a new, almost EU-like passport. I like this idea and at least half of Canadians are interested. The problem is the government’s collapsing in Canada right now,” he continued. “Nobody wants [Canadian Prime Minister Justin] Trudeau to negotiate this deal. I don’t want him doing it for me. So I’m going to go to Mar-a-Lago. I’ll start the narrative. The 41 millions Canadians, I think most of them would trust me on this deal.”

Trump in November threatened to place a 25% tariff on all products from Canada and Mexico unless they do more to curb the flow of illegal immigration and drugs entering the United States, with the Canadian government subsequently boosting its border security apparatus. Trudeau also met with Trump at his Mar-a-Lago residence following the president-elect’s threat.

 

Continue Reading

Alberta

Ford and Trudeau are playing checkers. Trump and Smith are playing chess

Published on

CAE Logo

 

By Dan McTeague

 

Ford’s calls for national unity – “We need to stand united as Canadians!” – in context feels like an endorsement of fellow Electric Vehicle fanatic Trudeau. And you do wonder if that issue has something to do with it. After all, the two have worked together to pump billions in taxpayer dollars into the EV industry.

There’s no doubt about it: Donald Trump’s threat of a blanket 25% tariff on Canadian goods (to be established if the Canadian government fails to take sufficient action to combat drug trafficking and illegal crossings over our southern border) would be catastrophic for our nation’s economy. More than $3 billion in goods move between the U.S. and Canada on a daily basis. If enacted, the Trump tariff would likely result in a full-blown recession.

It falls upon Canada’s leaders to prevent that from happening. That’s why Justin Trudeau flew to Florida two weeks ago to point out to the president-elect that the trade relationship between our countries is mutually beneficial.

This is true, but Trudeau isn’t the best person to make that case to Trump, since he has been trashing the once and future president, and his supporters, both in public and private, for years. He did so again at an appearance just the other day, in which he implied that American voters were sexist for once again failing to elect the nation’s first female president, and said that Trump’s election amounted to an assault on women’s rights.

Consequently, the meeting with Trump didn’t go well.

But Trudeau isn’t Canada’s only politician, and in recent days we’ve seen some contrasting approaches to this serious matter from our provincial leaders.

First up was Doug Ford, who followed up a phone call with Trudeau earlier this week by saying that Canadians have to prepare for a trade war. “Folks, this is coming, it’s not ‘if,’ it is — it’s coming… and we need to be prepared.”

Ford said that he’s working with Liberal Finance Minister Chrystia Freeland to put together a retaliatory tariff list. Spokesmen for his government floated the idea of banning the LCBO from buying American alcohol, and restricting the export of critical minerals needed for electric vehicle batteries (I’m sure Trump is terrified about that last one).

But Ford’s most dramatic threat was his announcement that Ontario is prepared to shut down energy exports to the U.S., specifically to Michigan, New York, Wisconsin, and Minnesota, if Trump follows through with his plan. “We’re sending a message to the U.S. You come and attack Ontario, you attack the livelihoods of Ontario and Canadians, we’re going to use every tool in our toolbox to defend Ontarians and Canadians across the border,” Ford said.

Now, unfortunately, all of this chest-thumping rings hollow. Ontario does almost $500 billion per year in trade with the U.S., and the province’s supply chains are highly integrated with America’s. The idea of just cutting off the power, as if you could just flip a switch, is actually impossible. It’s a bluff, and Trump has already called him on it. When told about Ford’s threat by a reporter this week, Trump replied “That’s okay if he does that. That’s fine.”

And Ford’s calls for national unity – “We need to stand united as Canadians!” – in context feels like an endorsement of fellow Electric Vehicle fanatic Trudeau. And you do wonder if that issue has something to do with it. After all, the two have worked together to pump billions in taxpayer dollars into the EV industry. Just over the past year Ford and Trudeau have been seen side by side announcing their $5 billion commitment to Honda, or their $28.2 billion in subsidies for new Stellantis and Volkswagen electric vehicle battery plants.

Their assumption was that the U.S. would be a major market for Canadian EVs. Remember that “vehicles are the second largest Canadian export by value, at $51 billion in 2023 of which 93% was exported to the U.S.,”according to the Canadian Vehicle Manufacturers Association, and “Auto is Ontario’s top export at 28.9% of all exports (2023).”

But Trump ran on abolishing the Biden administration’s de facto EV mandate. Now that he’s back in the White House, the market for those EVs that Trudeau and Ford invested in so heavily is going to be much softer. Perhaps they’d like to be able to blame Trump’s tariffs for the coming downturn rather than their own misjudgment.

In any event, Ford’s tactic stands in stark contrast to the response from Alberta, Canada’s true energy superpower. Premier Danielle Smith made it clear that her province “will not support cutting off our Alberta energy exports to the U.S., nor will we support a tariff war with our largest trading partner and closest ally.”

Smith spoke about this topic at length at an event announcing a new $29-million border patrol team charged with combatting drug trafficking, at which said that Trudeau’s criticisms of the president-elect were, “not helpful.” Her deputy premier Mike Ellis was quoted as saying, “The concerns that president-elect Trump has expressed regarding fentanyl are, quite frankly, the same concerns that I and the premier have had.” Smith and Ellis also criticized Ottawa’s progressively lenient approach to drug crimes.

(For what it’s worth, a recent Léger poll found that “Just 29 per cent of [Canadians] believe Trump’s concerns about illegal immigration and drug trafficking from Canada to the U.S. are unwarranted.” Perhaps that’s why some recent polls have found that Trudeau is currently less popular in Canada than Trump at the moment.)

Smith said that Trudeau’s criticisms of the president-elect were, “not helpful.” And on X/Twitter she said, “Now is the time to… reach out to our friends and allies in the U.S. to remind them just how much Americans and Canadians mutually benefit from our trade relationship – and what we can do to grow that partnership further,” adding, “Tariffs just hurt Americans and Canadians on both sides of the border. Let’s make sure they don’t happen.”

This is exactly the right approach. Smith knows there is a lot at stake in this fight, and is not willing to step into the ring in a fight that Canada simply can’t win, and will cause a great deal of hardship for all involved along the way.

While Trudeau indulges in virtue signaling and Ford in sabre rattling, Danielle Smith is engaging in true statesmanship. That’s something that is in short supply in our country these days.

As I’ve written before, Trump is playing chess while Justin Trudeau and Doug Ford are playing checkers. They should take note of Smith’s strategy. Honey will attract more than vinegar, and if the long history of our two countries tell us anything, it’s that diplomacy is more effective than idle threats.

Dan McTeague is President of Canadians for Affordable Energy.

Continue Reading

Trending

X