Canada’s parliamentary budget watchdog has corrected an earlier report about the carbon tax, and found it will leave most Canadians worse off.
Parliamentary Budget Officer Yves Giroux ran the numbers again from his two previous reports, coming to the same conclusion that most Canadians will receive more in rebates than they pay in carbon taxes.
However, his new report also examined the economic impact of the tax, which he found will reduce Canada’s overall gross domestic product and add other costs to the economy.
He found that the direct and indirect costs of the carbon tax will leave most Canadian households worse off than they would be without the tax.
The report predicts the tax will have the equivalent effect by 2030 of removing 26 million vehicles from the roads.
The entire report is available online here.
