Prime Minister Justin Trudeau is planning to create a carbon pricing plan for four of the provinces in Canada.
Ontario, Saskatchewan, Manitoba, and New Brunswick do have carbon pricing plans. Those provinces have nearly half the population of Canada.
Trudeau leads the Liberal Party.
Polling in 2018 has been mixed. The Liberals have generally been holding the lead but the Conservative party is close.
The next federal election in Canada will be in 2019.
Canada’s Carbon Tax plan
The Canadian carbon tax would start at $10 per ton this year, bringing in about $2.3 billion Canadian ($1.8 billion in US dollars), and rise $10 per year to $50/ton in 2022, when it will bring in about C$5.6 billion (US$4.3 billion).
Of that revenue, about 90 percent will be directly rebated to citizens of the provinces, in the form of yearly “climate action incentive” payments. According to the government’s estimates, the average family will pay C$202 to C$403 annually, depending on the province and their level of consumption, and receive a rebate of C$248 to C$598.
3. Looks like the backstop will be imposed (at least in part) in SK, MB, ON, NB. Other provinces and territories had already voluntarily taken on parts of the backstop. pic.twitter.com/o8zFRMERhH
— Dale Beugin (@dalebeugin) October 23, 2018
6. And more most households, rebates will larger than their carbon pricing costs. Households will see net gains. pic.twitter.com/ThfWoiXY85
— Dale Beugin (@dalebeugin) October 23, 2018
British Columbia, Alberta, and Quebec already have carbon pricing systems in place that meet the federal government’s guidelines.
Nova Scotia, Prince Edward Island, and Newfoundland and Labrador have worked out programs of their own that they will announce soon.