If Canada axed its carbon tax– and rebates- this is how different households would gain or lose.

High-income households would tend to be the biggest winners, lower-income households hurt the most

  • AutoTL;DR@lemmings.worldBEnglish
    2·
    1 year ago

    This is the best summary I could come up with:

    Speakers at a rally in Kindersley, Sask., included the Reform Party’s Preston Manning, the Liberals’ Lloyd Axworthy and the Saskatchewan NDP’s Roy Romanow.

    The SPSD/M (as it’s known for short) is specialized software created and maintained by Statistics Canada that is used by economists, researchers, politicians and anyone interested in analyzing tax and transfer policies in the country.

    Tombe extracted data from the latest version of the model and shared it with CBC News to illustrate how a hypothetical axing of the federal carbon tax would affect different households.

    For these purposes, the model is only applicable to four provinces: Ontario, Manitoba, Saskatchewan and Alberta, which accounts for the vast majority of Canadians paying the federal carbon tax and receiving the rebates.

    A separate analysis released by the Parliamentary Budget Officer (PBO) in March found households in Nova Scotia, Prince Edward Island and Newfoundland and Labrador, on average, will also receive more in rebates this year than they pay in direct and indirect carbon-tax costs combined.

    (It’s also important to note the analysis was conducted before the Liberal government’s decision to exempt home heating oil from the carbon tax, a move that disproportionately benefits people in Atlantic Canada.)

    The original article contains 1,459 words, the summary contains 193 words. Saved 87%. I’m a bot and I’m open source!