Cap-and-trade a new tax on home-heating, gasoline
QUEEN’S PARK – The Liberals’ cap-and-trade scheme puts a new tax on gasoline and home-heating that will make life more unaffordable for families across Ontario, Huron-Bruce MPP and PC Environment and Cap-and-Trade Critic Lisa Thompson said today.
“Climate change is a serious challenge that requires a credible plan that will effectively reduce greenhouse gas emissions while protecting Ontario taxpayers,” Thompson said. “Unfortunately, the Liberal government has done the opposite. Kathleen Wynne’s cap-and-trade tax-grab will force Ontario families to pay more for home-heating and gasoline while providing no guarantees that the money will actually go toward cutting emissions.”
The Liberals say that cap-and-trade will increase gasoline costs by 4.3 cents a litre and natural gas costs by $60 a year. However, private-sector estimates show that the long-term cost impact on families will be much higher. Some analysts project gasoline costs will increase by $400 a year and natural gas costs will increase by $475 a year.
Kathleen Wynne now plans to raise $1.9 billion in new revenue from cap-and-trade, which is $600 million more than the Liberals claimed this scheme would cost in their fall economic statement.
“The Liberals’ cap-and-trade scheme is a tax-grab in the name of the environment – plain and simple,” Thompson said. “Ontarians expect their government to tackle climate change and effectively reduce emissions in a way that keeps home-heating and gasoline affordable.”