Is Wynne’s Carbon Tax the Precursor to an Economic Catastrophe?

in Canada by

It all just seems like a fairy tale, doesn’t it?

The citizens of Ontario willingly give a small share of their incomes to the government. The government spends it to reduce the current levels of emissions. Ontario’s households and businesses flourish. And the world becomes a much better place to live. How good would that be?

Wynne’s policy on cap-and-trade seems too good to be true for one simple reason. It isn’t true. And this isn’t just us speaking. Even Ontario’s auditor general Bonnie Lysyk shares the view. According to some of the latest reports, the carbon tax scheme would have a huge cost for businesses and households. And the desired reduction in the level of emissions will be minimal, at best.

The Statistical Tale

The biggest impact of the cap-and-trade policy is, surprisingly, not positive. And it’s not even related to the environment. It’s a numbers game. The carbon tax would just push companies further to stop investing in Ontario and start investing elsewhere. And this isn’t just an empty claim. It’s backed by statistical evidence.

If the cap-and-trade continues to exist by the year 2020, businesses would take around $466 million worth of finances to places like California and Quebec. By 2030, that amount will have increased to a massive $2.2 billion. All the while, the impact on the emissions would be, you guessed it, negligible.

Lack Of Transparency

There are bigger problems for the cap-and-trade policy than that. The first problem is about the projected cost of the project. Even the government figures differed on what the cost would be. But let’s just assume that it is around $8 billion. Out of that, only one billion will go to previously approved projects. We just don’t know where the rest will go.    

Overall, there’s a horrible lack of transparency surrounding it all. Wynne’s government hasn’t been exactly clear about the costs of the program and where the revenue will go. Under these circumstances, the only rational conclusion can be that the project is heading towards a massive disaster.

Jason grew up on a farm in Saskatchewan and moved to work in the Alberta oil patch for the last 10 years, he has a sense of humor and open mind, his goal is to provide factual news across Canada and the United States on politics, he hopes one day to work for many publishing networks around the world.

3 Comments

  1. This woman has not only lost touch with her constituents , but has lost touch with reality !
    She, and her Liberal party have made such stupid decisions that she is selling a once proud Ontario down the drain !
    Her , and her kind are going to bankrupt all of us if we don’t turf her out of office !

  2. We didn’t “willingly” give the Liberal government our hard earned money, they stole it from us. The majority of Ontarians are against this thievery for a carbon tax that will do nothing for climate change. Wynne just wants more money because she ran out, how else is she going to pay her rich friends & family. Carbon tax is the last nail in our coffin, we are doomed.

  3. Frankly, I don’t think LIBERAL KATHLEEN WYNNE gives a dam about her province or her citizens….just as long she gets what ‘SHE’ wants and will get it if is by ruining the lives of the public.
    BTW Jason, “how many times a day-everyday have you seen LIBERAL KATHLEEN WYNNE name is mention on national TV across Canada, or daily in Toronto News? I haven’t. Yet, we heard nothing but the cost of $16 oj bev( bought in England) more times hourly, days months and years. Liberal K.W. not barely.

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