Posted on 02/04/2020 11:48:09 AM PST by Oldeconomybuyer
OTTAWA - The Canadian government will collect billions of dollars in direct revenue from its federal carbon pricing system over the next four years, but most of the country’s households will still receive more in rebates than they initially pay, Canada’s budgetary watchdog said on Tuesday.
Canadian Prime Minister Justin Trudeau and his then-majority Liberal government introduced a revenue neutral carbon pricing system in October 2018 as part of its pledge to combat climate change.
Under the program, the majority of the proceeds from the fuel charge are returned directly to individuals and families through rebates.
On Tuesday, the Parliamentary Budget Officer said the Canadian government could expect to collect C$2.81 billion ($2.12 billion) in direct revenues in 2019-20 from its current C$20 per tonne price on carbon.
Direct revenues, it noted, would rise to C$8.27 billion in 2022-23, with the carbon price increasing to C$50 per tonne.
Households, the PBO said, can still expect to receive 90% of the revenues raised from the fuel charge proceeds and about 80% of total revenue collected via direct federal rebates.
(Excerpt) Read more at reuters.com ...
Saving muvver erf a billion at a time. In the end it will get warmer or colder regardless of what we do or don’t do.
That is like US$11.00
I’m Canadian and the only ones getting these rebates are dirt poor. Like families making under $20,000 in US dollars kind of poor.
Nice little scam they’ve got there...one that will surely bet bigger as time goes on. When one wants to boil a frog you don’t drop it directly into boiling water...it will jump out. You stick it in comfy water and slowly turn up the temperature.
Used to be called a tax until we got all woked...
“federal carbon pricing system”
Sounds like this part of the article is just a big lie then:
“most of the country’s households will still receive more in rebates than they initially pay”
Al Gore is very pleased with his income.
And 80 to 90 percent of that money will go to the politicians corrupt cronies who will rebate it back to the corrupt politicians as campaign donation. We’ve all seen this play before.
And this is why the communists are pushing this “climate change” hoax so hard. Their “legalized theft” programs (existing taxes) are just not providing enough cash for their graft and corruption schemes and communist agendas. They drool over the trillions they could rake in new fees, taxes, regulatory fines, etc. from “climate change” regulations. They also drool over the trillions in IRA/401k accounts as well. They want to confiscate these so badly that they can taste it. Communists should be hanged...after a fair trial, of course. Those that support them, need to be locked back up in the insane asylums.
Trickle down redistribution
That’s why I left that stupid country.
Canada needs to be “great again”. I am not sure Canada has a Trump in them.
Income redistribution.
BTW-Does anyone really thing the government is going to give this money back?
GASP! It’s a profit deal! Who would have ever guessed!
I am shocked. Shocked I tell you.
As the old saying goes, there are three kinds of lies: lies, damned lies, and statistics.
According to the article, households "can expect to receive" (not that they will actually receive) 80% of the total C$2.81 Billion in carbon taxes that will be collected this year (that is $2.1 Billion in US dollars). That means the government's initial cut of the action is 20%, which of course will only increase over time. I calculate this year's government take at C$562 Million (US$420 Million).
$500 Million here, $500 Million there, eventually it starts to add up to real money, especially considering you are talking about a country with a total population of only 37 million.
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