The present price on carbon translates to Canadians paying roughly an additional 2.3 cents per litre of gasoline, which is ready to rise to an additional 12 cents per litre under the $50 per tonne pricing in 2022.
Government officials speaking on background on Friday said the rise within the carbon tax after 2022 would translate to a rise of roughly 27.6 cents per litre from 2022 costs.
Meaning Canadians can expect to pay roughly an additional 39.6 cents per litre of gasoline by 2030.
Officials wouldn’t provide an estimate on the effect the rise would have on home heating costs across the country, noting that may change depending on the energy source and the way Canadians use the retrofit incentives being rolled out through the plan.
Also included within the plan is a $3-billion fund for industry to assist Canadian firms lower their carbon emissions by implementing things like carbon capture technologies.
Overall, the measures aim to cut back carbon emissions by 32 per cent by 2030.
That barely exceeds the 2030 Paris targets to cut back emissions by 30 per cent of 2005 levels by 2030.
That estimate, though, relies on limited participation by provinces and if provinces participate with their very own latest programs, the forecast is the combined emission reduction would jump to 40 per cent.
It comes after the Liberals made a big selection of guarantees within the September throne speech and within the federal election campaign last fall, including a pledge to exceed the 2030 emissions reductions targets under the Paris Accord, and to get to net zero carbon emissions by 2050.
Those plans also included a promise to ban some single-use plastics by the top of 2021, a move that comes as Canadians are increasingly turning back to using disposable plastics amid the pandemic.
But the federal government has faced criticism for a scarcity of detail on exactly the way it plans to realize those goals, and the way much the sweeping climate agenda could cost.
This fall, Trudeau announced the federal government will legislate the targets for reducing emissions.
He acknowledged, nonetheless, that plan only works if future governments don’t repeal the laws.
The announcement on Friday comes because the House of Commons prepares to rise after a raucous fall session amid spiking coronavirus cases.
It also comes amid growing concerns about misinformation targeting Canadians online on every thing from the protection of vaccines to the Liberal plans to maneuver toward a green economy.
— More to return.