“(This) means ripping $3 billion right out of folks’ bank accounts, or cutting $3 billion from things like health care.” – Peter Tabuns, Ontario NDP’s Energy and Climate Change critic
A News Release from Ontario’s New Democratic Party
Posted October 16th, 2018 on Niagara At Large
Queen’s Park – The people of Ontario will have to shell out an extra $3 billion over four years because of Doug Ford’s favour to big polluters: cancelling cap and trade.
“Doug Ford is hurting Ontario’s environment, and he’s charging all Ontarians extra to do it,” said the NDP’s Energy and Climate Change critic, Peter Tabuns.
“The direct result of Ford’s favour to big polluters will be $3 billion in costs piled onto the backs of the people of Ontario. That means ripping $3 billion right out of folks’ bank accounts, or cutting $3 billion from things like health care.”
The true cost of Ford’s move was revealed by the independent Financial Accountability Officer of Ontario in a report released Tuesday morning.
The federal government, by law, will impose a carbon tax on any province that doesn’t have a climate change plan that prices carbon. By cancelling Ontario’s participation in the cap and trade market, Ford is choosing a carbon tax over cap and trade.
“By choosing a federal carbon tax instead of an Ontario cap and trade deal, Ford is forcing Ontario households to pay more,” said Tabuns.
“Ford’s plan to have no plan fails Ontario three times over – with higher deficits, higher costs to every household in the province, and damage to our environment today, and for our children and grandchildren.”
To read a Globe and Mail story on this issue, click on – https://www.theglobeandmail.com/politics/article-scrapping-cap-and-trade-will-cost-ontario-3-billion-financial/ .
A Brief Footnote from Doug Draper, reporter/publisher for Niagara At Large –
It the math is correct, and the cost of Ford gutting these actions to address climate change adds up to at least $3 billion, that is a huge amount of money that will have to be made up for by cutting funding for other services.
And to make up for that kind of loss in revenues, it is quite likely (given past experiences) that funding will have to be cut for health care services since that is one of the biggest expenses Ontario has, and one that is growing given the number of baby boomers in their senior years.
So if you are a senior who finds yourself using health services more than you have in the past, you may want to consider saving some of those dollars Ford is putting back in your pocket with tax cuts on carbon fuels, because you may need them for health care.
Fasten you seat belts fellow Ontarians. We are in for a very bumpy four years.
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