Canada will lose 200,000 jobs because of carbon tax: report

DM

A new report from the Fraser Institute suggests Canada will face serious economic consequences should the carbon tax rise to the planned $170 per tonne by 2030. Researchers estimated that both GDP and employment will be significantly lower by 2030 because of the carbon tax, with the total economic loss amounting to $44.1 billion. “Real GDP could decline by about 2.1% compared to the case without the tax, and the economy will lose approximately 200,000 jobs. Also real household consumption will decline in every province even after taking account of the rebates, which highlights the challenge the federal government will face in achieving their goal that most Canadians will be made better off by the plan,” the report says. “It is noteworthy that increases in energy costs fall disproportionately more heavily on lower-income households.” The report conflicts with the Trudeau government’s position that carbon tax policies will make Canada better off.

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