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The Canadian federal government recently announced that the
carbon tax will increase from its current $30 per tonne of
greenhouse gas (GHG) emissions to $170 per tonne in 2030 – an
increase of 467% over 10 years. This announcement, if made into
law, is expected to have a profound effect on many consumers,
businesses and industries in Canada.
The federal carbon tax in Canada is set under the federal
Greenhouse Gas Pollution Pricing Act (GGPPA). The GGPPA
has two main parts:
a federal fuel charge (based on the annual carbon price) paid
Phair Oilfield Tank Truck Service Ltd. paid $1,450.23 in carbon tax on its fuel bill in just one month, in one of the first months the carbon tax was implemented. Back in July, 2019, the carbon tax was $20 per tonne of CO2. By 2025, that number will rise to $95 per tonne, and $170 per tonne by 2030. Photo courtesy Anne Phair Anne Phair was having some coffee with some friends one day, back when you could still do that. They were talking about the federal carbon tax. Anne said, “I was talking to some friends, most of which don t actually own their own businesses, and one was talking about how her grandma got some money back and she doesn t ever get money back. And she was so surprised and I m like, ‘Yeah, that was my money.’”
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Canada Proposes New Plan to Invest $15 Billion in Climate Action, Raise Carbon Price to $170/Tonne
Canada
December 14 2020
On December 11, 2020, the Government of Canada released its plan to accelerate climate action in Canada, titled A Healthy Environment and a Healthy Economy . The plan contemplates a total of $15 billion in investments implemented through 64 specific measures. Three particularly important components of the plan are enhanced carbon pricing measures, investment in low-carbon and energy-efficient infrastructure, and investment in low and zero-emission vehicles (ZEVs).
Carbon Pricing Measures
Canada s new plan proposes an increasing cost on carbon that will reach $170 per tonne by 2030. To reach that level, the price imposed on carbon will rise from the 2022 rate of $50 per tonne by $15 per tonne each year. As is currently the case under the
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On December 11, 2020, the Government of Canada released its plan to accelerate climate action in Canada, titled A Healthy Environment and a Healthy Economy . The plan contemplates a total of $15 billion in investments implemented through 64 specific measures. Three particularly important components of the plan are enhanced carbon pricing measures, investment in low-carbon and energy-efficient infrastructure, and investment in low and zero-emission vehicles (ZEVs).
Carbon Pricing Measures
Canada s new plan proposes an increasing cost on carbon that will reach $170 per tonne by 2030. To reach that level, the price imposed on carbon will rise from the 2022 rate of $50 per tonne by $15 per tonne each year. As is currently the case under the