Having previously changed the consumer carbon tax rate to zero, the Carney government appears to be moving to eliminate it altogether. But don’t get out the champagne just yet. The industrial carbon tax remains, and Carney’s being cagey about what might happen to it.
In March Carney used a regulation to set the price of the consumer carbon price to zero. However the government is now moving to repeal the law which enabled the policy, effectively ending it for good — along with the rebate Canadians received from it.
The pricing system for industry accounted for about 80 per cent of total emissions cuts from carbon pricing overall.
Carney has promised to strengthen the industrial policy but has not said how or when that will happen.