Trudeau introduces a second carbon tax that will cost you a lot of time

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Justin Trudeau’s second carbon tax, set to take effect July 1, will soon cost Canadian families more than $1,000 a year.

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This shocking figure comes from an analysis by the Parliamentary Budget Officer (PBO) examining costs across the country and by province up to 2030.

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The analysis also concludes that the Clean Fuel Regulations, also known as Trudeau’s second carbon tax, will hit lower-income families much harder.

“As lower-income households generally spend a larger proportion of their income on transport and other energy-intensive goods and services than higher-income households, the Clean Fuel Regulations will have a larger impact on these households, on average,” said Yves Giroux, the PBO.

The Clean Fuel Regulations are part of the Trudeau administration’s overall plan to reduce greenhouse gas emissions. Although the government does not call the regulations a tax, the effect of the regulations is the same – the government imposes a fee for political reasons.

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Like the “carbon price,” these regulations are a tax by any other name.

On average, the PBO report says that by 2030, lower-income households will pay $230 more per year, or 0.62% of their disposable income, as a result of the new tax. Higher-income households pay an additional $1,008, which is a higher amount but has a much smaller spending impact at 0.35% of their disposable income.

“As a percentage of disposable household income, the PBO results show that clean fuel regulations are broadly declining. This means that costs for lower-income households represent a larger proportion of their disposable income than for higher-income households,” says the report.

Where you live also has an impact on how much Trudeau’s second carbon tax will hit your wallet.

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In Ontario, it is estimated that the bottom 20% of earners will pay an additional $217 by 2030, while the top 20% will pay an additional $495 on average. In Quebec, the additional cost ranges from $178 to $436, while in Manitoba it ranges from $237 to $611.

Costs are much higher in Alberta and Saskatchewan, “reflecting the higher intensity of fossil fuels in their economies.”

By 2030, the bottom 20% of Saskatchewan earners will pay $38 more per year, while the top 20% will pay an additional $1,117. In Alberta, the range is from $370 to $1,157.

Conservative leader Pierre Poilievre said the Trudeau Liberals would introduce this new tax while Canadians were already struggling.

“This comes at a time when bankruptcies and bankruptcies are on the rise and one in five Canadians is skipping meals because they can’t afford food prices,” Poilievre said.

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According to the Office of the Superintendent of Bankruptcies Bankruptcies up 28% in March, the last period reported. Grocery bank usage is growing across the country, and now Trudeau will introduce a new “fee” that will add direct costs to Canadians as well as indirect costs for the goods they buy.

earlier this year, The PBO released a report However, the overall impact of the carbon tax was greater than claimed by the Trudeau government.

“According to our analysis, most households will pay more in fuel fees and GST — and earn slightly less income — than they will receive in climate change incentive payments,” the report says.

When the analysis of the two reports is combined, a middle-income family in Ontario will have to pay $1,771 more per year due to both taxes by 2030. In Manitoba, this combined tax increase is $1,130, while in Saskatchewan it is $1,213 annually and $1,859 in Alberta.

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The PBO report on the Clean Fuel Regulations states that by 2030 the additional cost will be 17 cents per liter for gasoline and 16 cents for diesel. Unlike the original carbon tax, there are no rebates for the increased costs caused by the Clean Fuel Regulations.

“So there’s going to be carbon tax one, then carbon tax two, and then HST on carbon tax one and two, which costs you 61 cents a liter in higher Trudeau taxes every time you fill up to drive to work.” Poilievre said, that the new regulations would increase the cost of heating and groceries.

The Conservative leader pledged that if elected he would scrap the two carbon taxes and give Canadians more of their own money.

The sad thing is that all of these allegations made by Trudeau are said to be about cutting Canada’s carbon emissions, something that hasn’t happened and is unlikely to happen in the near future.

bliley@postmedia.com