Taxes in Canada: Time to rethink carbon fee?

The Canadian Taxpayers Federation says it’s time to rethink the carbon tax as emissions in B.C. continue to rise.

On April 1, the tax will rise another penny to 11 cents a litre on fuel. Kris Sims with the CTF said when fuelling up a minivan, $8 would go towards B.C.’s carbon tax.

“The cost of living for the average person here in B.C. is already skyrocketing and this increased carbon tax is just going to hurt more,” said Sims in an interview with CTV News on Monday.

The tax is also added to natural gas used for heating. The CTF says with emissions rising, maybe it’s time to look at alternatives.

“There are private companies nowadays that capture (carbon dioxide) out of the air as a resource.”

Sims explained this comes at no cost to taxpayers: “They take it to make soap — so look at those alternatives to reduce emissions, don’t be carbon taxing people just for heating their homes or diving to work.”

In 2022, homeowners will pay more in property taxes – 6.3 per cent in Vancouver and 2.99 per cent in Surrey.

Groceries and goods are also seeing jacked up price thanks to inflation, which is often called a hidden tax, and federal tax changes mean the highest earners will pay more.

The CTF is also worried about the impact of long-term debt that is piling up. In a new report, the group estimates that by next March each Canadian’s average share of the debt will reach about $32,200. If you add in B.C.’s debt, that’s $52,000 per person.

“Our governments of all levels need to go through and ask themselves does this absolutely need to be done, does it need to be done now and am I doing it in the most economically feasible way possible?” Sims added.

Source link

Share This Post With A Friend!

We would be grateful if you could donate a few $$ to help us keep operating.