2 w. ago The consumer carbon tax is about to be scrapped in B.C. So why are gas prices still rising?

Premier David Eby expects British Columbians to save 17 cents a litre starting Tuesday, despite the concern that oil and gas companies may try to gouge customers

Economics

3 w. ago Scrapping carbon tax might make life more unaffordable, advocates say

Low-income British Columbians were receiving up to $400 a year through the climate action tax credit that was funded through the carbon tax.

Economics

3 w. ago Here's how the end of carbon tax in Canada will affect your everyday expenses

With the carbon tax set to be scrapped next month, Canadians may be wondering exactly how much this will affect gas and food prices in Canada.According to an analysis from Desjardins Economics released on Tuesday, Canadians can expect a drop in prices at the pump immediately, but it may take a while for their grocery bills to go down.The report comes after Prime Minister Mark Carney announced that the federal government would be axing the consumer carbon tax in Canada as of April 1. The final Canada Carbon Rebate (CCR) will still be issued that month, but you'll need to get your affairs in order to cash in.Desjardins predicts that inflation will be about 0.7 per cent lower in April 2025 than it would have been if the carbon tax stayed.More specifically, the report suggests that removing the price of pollution will drop gas prices by about $0.18 per litre on April 1 in provinces where the fuel charge is applied.In comparison, the carbon tax in Canada was...

Economics

3 w. ago What you need to do to get your final Canadian carbon tax rebate

If you want to cash in on the final carbon tax rebate, you will have to get some things in order in the next couple of weeks.Last Friday, Prime Minister Mark Carney scrapped the consumer carbon tax as his first move as Liberal Party leader."The consumer carbon tax was too divisive when we should be pulling together. That's why I took action to cancel it on day one," he posted on X.He announced last Friday that the fuel charge would be removed as of April 1 but that the Canada Carbon Rebate (CCR) would still be issued for that month.The carbon rebate, formerly known as the Canada Climate Action Incentive Payment (CAIP), is a quarterly, tax-free amount to help eligible individuals and families offset the cost of federal pollution pricing.According to a notice on the government's tax credits and benefits page, the final CCR payment will be issued starting April 22.However, to receive the payment, the government says individuals must have filed their 2024 income tax and benefi...

Economics

4 w. ago LILLEY: PM Carney has it all wrong with industrial carbon tax

The carbon tax will still be an issue in the coming election. It’s a topic both Mark Carney and Pierre Poilievre were talking about Monday. While Conservative Leader Poilievre was promising to scrap the industrial carbon tax, Prime Minister Carney was defending it as a necessity on his trip to Europe. On Friday, Carney and […]

Economics

4 w. ago Conservatives Promise to Kill Canada’s Industrial Carbon Tax

One of the top contenders to become Canada’s next prime minister has promised to scrap the country’s industrial carbon tax.

Economics