During the election campaign, Prime Minister Justin Trudeau also announced plans to make Canada carbon neutral by 2050. According to the commission’s report, carbon prices will need to rise by $20 per tonne each year after 2022 until they hit $210 per tonne in 2030, if Canada is to meet its targets relying largely on carbon pricing. One factor may be the visibility of the costs of carbon pricing,” the report reads. “If an economist says you have to use a carbon tax, they’re not telling you the truth. Leaving that system in place means the carbon tax on the rest of the economy has to be higher, Ragan said.

Source: National Post November 27, 2019 04:52 UTC