PBO Report on Carbon tax

[shtferbrains]

What the heck is this guy from the Budget office saying about the carbon tax?
Everything he says seem to confirm what everyone already knew?
If you consider the tax on everything in addition to consumers it cost everyone money.
Liberal want to include what they consider the cost of doing nothing as they say climate change will cost us more.

PBO guy says Canada has no significant effect on that because we only contribute 2% of the CO2 and the carbon tax can't change the outcome if the rest of the world doesn't have similar or any policies at all?

Good to see common sense in a government financed department, but this is something any fool, or almost any fool could see without doing a study.

He also seemed to say some of the report that showed the cost to the economy was released accidentally?

Maybe Chuck can explain why we should keep sending the government money that has no effect on the stated goal?

[chuckChuck]

Shite for brains you are dead wrong!

The revised report shows the negative impact is relatively small if you include the small economic impact of reduced GDP of only 0.6%.

Most consumers will be better off getting more rebates than they pay in tax dollar for dollar!

The revised report clearly shows the impact of the consumer carbon tax is much less than lying PP claims!

And there are no numbers to compares PPs plan for regulation and technological reductions!

Further the vast majority of consumers will get back more than they pay!

Its all in the report!

[url]https://www.pbo-dpb.ca/en/publications/RP-2425-017-S--distributional-analysis-federal-fuel-charge-update--analyse-distributive-redevance-federale-combustibles-mise-jour[/url]

Earlier this year, the PBO acknowledged that its original economic analysis of the federal carbon tax and rebates inadvertently included the industrial pricing system that applies to heavy emitters. ( the carbon tax system applied by Saskatchewan and Alberta)

Consistent with previous reports, the PBO's updated analysis does not account for the benefits of reducing emissions or the economic costs of climate change. It also does not estimate the impacts of alternative policies.

The cost will be 0.6 % reduction in GDP. Thats all folks!

ECCC estimates that the fuel charge rising to $170 per tonne in 2030-31 will reduce real GDP in backstop provinces (that is, all provinces except Quebec and British Columbia) by 0.6 per cent and reduce emissions by almost 13 million tonnes in 2030 relative to levels projected under a counterfactual scenario without the fuel charge.

• Considering only the fiscal impact of the federal fuel charge, in 2030-31, we estimate that the average household in each of the backstop provinces will see a net gain, receiving more from the Canada Carbon Rebate than the total amount they pay in the federal fuel charge (directly and indirectly) and related GST. See Table 1.
• Moreover, in 2030-31, for all backstop provinces, we estimate that the average household in each income quintile will see a net gain—except for the average household in the highest income quintile in Prince Edward Island, Nova Scotia and New Brunswick—when only the fiscal impact of the federal fuel charge is considered.

Relative to household disposable income, the fiscal-only impact of the federal fuel charge is progressive. That is, lower income households see larger net gains compared to higher income households, reflecting the per capita nature of the Canada Carbon Rebate.

• We estimate that the largest net gain in 2030-31 is for the average household in the lowest income quintile in Saskatchewan (4.5 per cent of disposable income); the largest net cost in 2030-31 is for the average household in the top income quintile in Prince Edward Island (0.1 per cent of disposable income).

?Consistent with our previous reports, our updated analysis does not account for the benefits of reducing Canada’s emissions by, for example, reducing the economic costs of climate change. Further, our updated analysis does not provide estimates of the impacts of alternative policies that would achieve an equivalent reduction in emissions.

• PBO does not provide economic, fiscal or climate policy recommendations to parliamentarians, nor does PBO provide comparative policy or cost-benefit analyses. PBO does not initiate analysis to identify policy options or optimal policy decisions.

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[WiltonRanch]

Any recognition of a reduction in gdp should be disturbing for an already struggling economy. Many “experts” agreed with eugenics; sterilizing and lobotomizing unviable specimens.

[Hamloc]

Here is a simple real life example of what the carbon tax costs. I got a fertilizer quote which included a delivery quote. Delivery was $10.36 a tonne. The fuel surcharge was an additional $3.60 a tonne. Increases the freight cost by 35%. Clear diesel at the pump in Alberta is $1.65 per litre of which 21 cents is carbon tax. Now a schmuck like Chuck will say that is all the oil companies fault. The carbon tax inflates the cost of freight across the whole economy!!! That simple.

[shtferbrains]

THE PBO guy that did the report explained it clearly to Vassy on Power Play last night.
It says you are rebated more than you pay but the true cost is much higher due to the cost to the economy like trucking and lost jobs etc etc etc
He explained it in about 15 minutes including why Geebo can continue to basicly lie .


I don't know how to post videos but you can find it on YouTube.

Search;
Vassy Kapelos Power Play PBO

Maybe someone can put it up live.

[cropgrower]

yes about 1000 to 1200 dollars extra fuel cost per month for a truck , but the looneys are too dumb to realize that cost gets passed on

[shtferbrains]

You might get an agriville seed ad first

Wait for the best part when he explains why you can't consider the cost of climate change to justify the carbon tax

[fjlip]

Wake up tax nazis, Even if Canada did NOTHING, world climate would not change...So lets DO NOTHING!

[rodd]

Apparantely 8 out of 10 people received more back than they paid in carbon tax. That means 80 out of 100, which means 20% of the population paid more than they got back. These are the 20 % that pay most of the taxes in Canada. I bet 98% of the people on here are in that 20%. So just another transfer to the people not paying tax. How is this a good thing?

[Hamloc]

Apparantely 8 out of 10 people received more back than they paid in carbon tax. That means 80 out of 100, which means 20% of the population paid more than they got back. These are the 20 % that pay most of the taxes in Canada. I bet 98% of the people on here are in that 20%. So just another transfer to the people not paying tax. How is this a good thing?

Absolutely true. The key being that Justin Trudeau is attempting to buy votes in the 80% group not the 20% group where few would vote for a high taxing so-called progressive government. There is no doubt this is an intended wealth transfer masquerading as climate policy. It is curious though why media pundits never ask Justin Trudeau about the 20% carrying the load. But of course a very high percentage of journalists tend to be left of center. A good example is Alberta Senator Paula Simons, a former journalist. Look at her voting record in the Senate and listen to what she says, a perfect example.

[chuckChuck]

Most consumers are not farmers.

And farmers already get carbon tax free diesel along with subsidies in others expense areas

Did you get your personal rebate yet?

Or are you going to Axe the facts like PP!

[shtferbrains]

Do you think the carbon tax will disappear when Mr Truedeau does?
He seems to be the only supporter now?
Even many in the LPC don't see a future for it and want both him and it gone.
Over 100 of them will loose their jobs if it stay on.

[cropgrower]

yes we know the carbon tax is all about keeping the fastest growing slice of the voter pie happy ,wealth transfer done by socialist government supported by clueless chucks

[chuckChuck]

And you also got a carbon tax rebate for your personal carbon tax. Which PP never mentions.

Even with the economic impact included it adds up to a 0.6 % percent lower GDP in 2030. Much less than 1 %. Relatively very small and much less than the impact of climate change on the economy.

And with no comparison to PPs plan which is do nothing and lose investment in clean tech to other countries.

[Hamloc]

And you also got a carbon tax rebate for your personal carbon tax. Which PP never mentions.

Even with the economic impact included it adds up to a 0.6 % percent lower GDP in 2030. Much less than 1 %. Relatively very small and much less than the impact of climate change on the economy.

And with no comparison to PPs plan which is do nothing and lose investment in clean tech to other countries.

Chuck2, between 2014 and 2022, Canada’s GDP per person declined from 80.4 per cent of the U.S. level to 72.3 per cent. Source Fraser Institute. Moreover, Statistics Canada released a report April 24, 2024 which stated “Real GDP per capita has now declined in five of the past six quarters and is currently near levels observed in 2017. Recent reports by Porter(2024), Ercolao(2023), and Marion and Ducharme(2024) have all stressed the trend towards weaker per capita growth.” Chuck2, the U.S. has no carbon tax and what appears to be a dysfunctional government yet economically is far outperforming Canada. How is that possible?! Take your carbon tax and related rebates and stick them where the sun don’t shine. They are of no economic benefit, this has been proven over the last 7 years!!!!