Article content
Late last year, amid the global pandemic and recession, the Trudeau government announced plans to raise the carbon tax from its current level of $30 per tonne to $170 per tonne by 2030.
Unfortunately, the plan comes with significant economic and fiscal costs at the worst possible time, and Albertans will be hit hard.
We apologize, but this video has failed to load.
Try refreshing your browser, or Guest Opinion: New $170 carbon tax will hit Albertans hard Back to video
The federal carbon tax was initially set to increase by $10 a tonne until it reached $50 per tonne in 2022.
Now, it will increase by $15 per tonne (beginning in 2023) until it reaches $170 per tonne.
Opinion: Alberta has a spending problem, not a revenue problem A sales tax won t solve that theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
The latest Alberta budget, tabled last week, includes a plan to reduce the province’s budget deficit from $18.2 billion this fiscal year (2021/22) to $8…
CALGARY, Alberta, Feb. 09, 2021 (GLOBE NEWSWIRE) When tackling today’s fiscal challenges, the Alberta government can learn some key lessons from the Klein era of the 1990s, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think tank. “Successive governments in Alberta have repeated many of the mistakes of the pre-Klein era, including an overreliance on natural resource revenue and high levels of spending, which has produced deficits and rapid debt accumulation,” said Tegan Hill, Fraser Institute economist and co-author of Lessons for Fiscal Reform from the Klein Era. For example, prior to the 2008/09 recession, Alberta held $43.0 billion (inflation-adjusted) more in assets than it did in debt —in other words, it was Canada’s only debt-free province. Since then, due to government spending growth, nearly uninterrupted budget deficits (and the recent impact of the COVID recession and low oil