Ontario proposes to end its cap and trade carbon tax era

#RodPhillips, #cap-and-tradecarbontax, #Ontario, #Canada 

Ottawa, Jul 26 (Canadian-Media):  Rod Phillips, Minister of the Environment, Conservation and Parks announced yesterday details of legislation, which if passed, would formally end the cap-and-trade carbon tax in Ontario, media reports said.

Ontario had revoked the cap-and-trade carbon tax regulation, effective July 3, 2018, and prohibited all trading of emission allowances and had cancelled all programs currently funded through the cap-and-trade carbon tax including Green Ontario Fund.

“Ontario’s carbon tax era is over. Cancelling the cap-and-trade carbon tax is the right thing to do, a good thing to do and one more example of a promise made and a promise kept,” said Phllips.

Rod Phillips. Image credit: Twitter handle

Elimination of carbon taxes would result in approximate savings of  $260 per year for the average family and help reduce gas prices by 10 cents per litre.

Ontario businesses, additionally, will get rid of a cost burden, allowing them to grow, create jobs and compete around the world and succeed in achieving real environmental goals.

Eligible participants of the program, including the development of new regulations would be suitably compensated by the government.
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Criteria for the selection of the participants would include those whose accumulated costs are currently above and beyond their assessed emissions and who did not pass program costs down to consumers.

(Reporting by Asha Bajaj)​