![]() Which brings us to Ontario, and crushing reality. It assumes, first, that the provinces are any likelier than the feds to get the job done - to set serious targets and stick to them second, that they will, in fact, take the carbon pricing approach, in place of the usual failed regulatory/subsidy schemes (and not, say, on top of them) third, that the revenues from pricing carbon would be used to cut taxes, rather than to spend on, well, those same failed schemes. (Well, “small:” on a $2 trillion economy, that’s $8 billion in needless expense, every year.)īut there are a number of assumptions built into that comforting second-best scenario. Indeed, a new study by Canada’s Ecofiscal Commission - another grand name, this time for a group of economists - suggests the extra costs of applying 13 different pricing regimes in place of one are surprisingly small: just 0.4 per cent of gross domestic product. ![]() Still, if the feds can’t or won’t do it, the provinces will have to step into the breach. This advertisement has not loaded yet, but your article continues below. Manage Print Subscription / Tax Receipt.
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