RE: “Carbon tax needs to be reworked” – Letter: May 23, 2018
Mr. Topple would do well to bring himself into the 21st century with his information. Carbon pricing is the considered recommendation of most of those economists who are involved in this question. It is the opinion of most that there is no more efficacious way of bringing about rapid and effective emission reductions.
Also, China, like Ontario, does have a cap and trade program: a serious one, along with 10 American states. Ontario’s is in collaboration with California. Further, some 100 jurisdictions, including close to all of our competitors, have carbon pricing: most of them far deeper than Ontario’s. They also have much higher gas prices. Revenue neutral carbon tax or cap and trade matters little in reality. Both have the same effect on prices, just a different range of products. Either may be returned to the population or used in other ways.
Ontario’s choice has been to dedicate the revenues to initiatives that would further the purpose by encouraging and supporting reduction strategies and business structuring.