New study shows carbon tax will hurt the economy without helping the environment | WPN World People News

The Canadian Taxpayers Federation is calling on the federal government to back off on its threatened carbon tax in the wake of a new University of Regina study detailing the damage a carbon tax would inflict on the Saskatchewan economy while failing to help the environment.

“There are two problems with a carbon tax: it costs people money and it doesn’t help the environment,” said Todd MacKay, the CTF’s Prairie Director. “While Ottawa refuses to provide transparency on its carbon tax scheme, the University of Regina’s study shines a light on the economic damage a carbon tax would cause.”

Ottawa’s carbon tax will cost the Saskatchewan economy $1.8 billion every year, according to the University of Regina. That’s equivalent to a GDP loss of 2.4 per cent. A separate University of Calgary study shows the carbon tax will cost Saskatchewan households more than $1,000 annually.

“We have to look beyond the billion-dollar numbers to see the hurt a carbon tax will cause for Saskatchewanians,” said MacKay. “A carbon tax will make grocery bills bigger for families and jobs harder to get for workers.”

The University of Regina also examined the environmental impact of Ottawa’s carbon tax scheme and found it would trim Saskatchewan emissions by a mere 1.25 per cent.

“Canada produces 1.6 per cent of global emissions and Saskatchewan produces a tenth of those emissions,” said MacKay. “That means Ottawa’s carbon tax would cost Saskatchewan’s economy $1.8 billion a year without making any real change in Canadian or global emissions.”

The University of Regina’s evidence of a carbon tax’s economic harm balanced against its failure to significantly reduce emissions provides key arguments as the Saskatchewan government goes to the Court of Queen’s Bench to block Ottawa’s scheme. The CTF is seeking intervener status to raise arguments on behalf of taxpayers.

“Going to court will force Ottawa to stop hiding its carbon tax numbers and put its cards on the table,” said MacKay. “The University of Regina’s research strengthens Saskatchewan’s hand as it makes its case to stop Ottawa’s carbon tax.”

Source:Canadian Taxpayers Federation