Ottawa Releases Data on Impact of Carbon Pricing on Economy

Ottawa has released its estimate of the carbon tax’s impact on the Canadian economy following Conservative allegations the government had prevented the Parliamentary Budget Officer from speaking on the data. The federal modelling data shows the country’s GDP is expected to be about $25 billion lower in 2030 due to carbon pricing than it would be otherwise, or 0.9 per cent below what it is estimated to be without carbon pricing. The data was created in May by Environment Canada for the Parliamentary Budget Office (PBO) and models GDP and emissions based on raw economic and climate data. The data also said that Canada’s emissions would be roughly 11 percent higher by 2030 without carbon pricing and that 80 million tonnes of greenhouse gas emissions will be eliminated by carbon pricing by that time....