Ford Ends Cap-and-Trade Carbon Tax Era in Ontario

Ford Ends Cap-and-Trade Carbon Tax Era in Ontario

Brooks said cap-and-trade not only funds emissions-cutting programs - from social housing retrofits to cycling infrastructure - but is a system businesses have already invested in.

The announcement adds an effective date of July 3, 2018, after which Ontario will begin winding-down all programs funded out of cap-and-trade carbon tax revenues.

"People need the details on exactly when this is going to be wound down and if there are any programs that are going to persist, we also need to know what those are, because otherwise the manufacturers are going maybe on a rollercoaster ride", he said.

The PC Party won a majority government after campaigning on axing cap-and-trade, which forced large companies to buy allowances for their carbon emissions.

The leader of the progressive conservatives, who officially took the oath Friday, said that the abolition of quotas and restrictions for the market of hydrocarbons will be the first item in the list of his works.

"Cap-and-trade and carbon tax schemes are no more than government cash grabs that do nothing for the environment, while hitting people in the wallet in order to fund big government programs", said Ford.

"Every cent spent from the cap-and-trade slush fund is money that has been taken out of the pockets of Ontario families and businesses", said Ford. CTV News Canada is reporting that Ford also said some payments will be decided on a "case-to-case" basis as to whether they will be paid using the tax base revenue.

By getting Ontario out of the carbon tax business, Ford claims that taxpayers across the province will breathe a sigh of relief. To be exact, Ford promises to cut gas costs by 10 cents a litre.

According to Ontario's Auditor General, the cap-and-trade system is costing Ontario residents and businesses $8 billion annually, with a "negligible impact" on the province's carbon emissions, which is the whole goal of the system.

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