The federal government's emission-reduction plan will cost Canadian workers $6,700 annually by 2030 — while failing to meet the government's emission-reduction target. University of Guelph economist Ross McKitrick exposes the Liberal scheme.The Trudeau government does not admit that its climate change plan will cost Canadian workers $6,700 annually by 2030, cut national employment by 164,000 jobs, and fail to achieve the promised emission reduction targets. The government's plan will significantly hurt Canada's economy and cost workers money and employment. The plan will worsen the downward trends in productivity and income and reduce some emissions, but at a cost many times higher than the government's stated benefits. The scheme could reduce Canada’s Gross Domestic Product by as much as 6.2% by 2030, which would be a huge economic hit to everyone.While some economists argue that the carbon tax is an efficient way of reducing industrial greenhouse gas emissions, the McKitrick report notes the tax is just one of many costs the Trudeau government has imposed related to climate change. The many different policies may work at cross purposes.Carbon pricing is part of the federal policy mix, but the many regulations, subsidies, and mandates undermine any economic efficiency attained by the Carbon Tax, resulting in gross inefficiency.The policy simulations show that the rising federal carbon tax will slow some emissions growth between now and 2030 and will hurt national GDP. The costs per worker will exceed a thousand dollars per year by 2030. The Clean Fuel Regulations also reduce emissions, so that by 2030, emissions will be about halfway to the federal target. However, these reductions are much costlier than those achieved through carbon pricing, so the cost per tonne of abatement doubles, and the cost per worker as of 2030 more than doubles. The regulatory measures further increase the costs per tonne of reduction of the whole policy package without gaining much in further emission reductions. This causes the cost per worker to be over five times higher than the carbon tax alone. Canadian income and economic growth are currently serious policy concerns. While the government claims to promote investment and growth, its climate policy package will thwart that objective. The McKitrick report says Canada’s policy mix will reduce Canadian GHG emissions somewhat, but more is needed to reach the 2030 target level. Second, plans will seriously dampen GDP growth and eliminate net growth in real income per worker between 2022 and 2030. Third, the components of the Emissions Reduction Plan have very different marginal costs. The pricing mechanism costs the least per tonne, but the regulatory measures are highly inefficient and raise the per-tonne cost of the package as a whole to about 3.5 times that of the carbon tax alone.The federal government has set a GHG emissions reduction target of at least 40% below 2005 levels by 2030, equivalent to 38.5% below 2022 levels. The ERP will cost $6,700 per worker annually by 2030, more than five times the cost per worker compared to the carbon tax alone. Overall, while the federal ERP will contribute to reducing GHG emissions, it falls short of meeting the 2026 or 2030 targets while imposing significant economic burdens on Canadian households.The plans are expensive and will not meet the targets..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
The federal government's emission-reduction plan will cost Canadian workers $6,700 annually by 2030 — while failing to meet the government's emission-reduction target. University of Guelph economist Ross McKitrick exposes the Liberal scheme.The Trudeau government does not admit that its climate change plan will cost Canadian workers $6,700 annually by 2030, cut national employment by 164,000 jobs, and fail to achieve the promised emission reduction targets. The government's plan will significantly hurt Canada's economy and cost workers money and employment. The plan will worsen the downward trends in productivity and income and reduce some emissions, but at a cost many times higher than the government's stated benefits. The scheme could reduce Canada’s Gross Domestic Product by as much as 6.2% by 2030, which would be a huge economic hit to everyone.While some economists argue that the carbon tax is an efficient way of reducing industrial greenhouse gas emissions, the McKitrick report notes the tax is just one of many costs the Trudeau government has imposed related to climate change. The many different policies may work at cross purposes.Carbon pricing is part of the federal policy mix, but the many regulations, subsidies, and mandates undermine any economic efficiency attained by the Carbon Tax, resulting in gross inefficiency.The policy simulations show that the rising federal carbon tax will slow some emissions growth between now and 2030 and will hurt national GDP. The costs per worker will exceed a thousand dollars per year by 2030. The Clean Fuel Regulations also reduce emissions, so that by 2030, emissions will be about halfway to the federal target. However, these reductions are much costlier than those achieved through carbon pricing, so the cost per tonne of abatement doubles, and the cost per worker as of 2030 more than doubles. The regulatory measures further increase the costs per tonne of reduction of the whole policy package without gaining much in further emission reductions. This causes the cost per worker to be over five times higher than the carbon tax alone. Canadian income and economic growth are currently serious policy concerns. While the government claims to promote investment and growth, its climate policy package will thwart that objective. The McKitrick report says Canada’s policy mix will reduce Canadian GHG emissions somewhat, but more is needed to reach the 2030 target level. Second, plans will seriously dampen GDP growth and eliminate net growth in real income per worker between 2022 and 2030. Third, the components of the Emissions Reduction Plan have very different marginal costs. The pricing mechanism costs the least per tonne, but the regulatory measures are highly inefficient and raise the per-tonne cost of the package as a whole to about 3.5 times that of the carbon tax alone.The federal government has set a GHG emissions reduction target of at least 40% below 2005 levels by 2030, equivalent to 38.5% below 2022 levels. The ERP will cost $6,700 per worker annually by 2030, more than five times the cost per worker compared to the carbon tax alone. Overall, while the federal ERP will contribute to reducing GHG emissions, it falls short of meeting the 2026 or 2030 targets while imposing significant economic burdens on Canadian households.The plans are expensive and will not meet the targets..This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
