ON: Ontario introduces legislation to end cap and trade carbon tax era in Ontario
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On July 25, Minister of the Environment, Conservation and Parks Rod Phillips announced details of legislation that would, if passed, formally end the cap-and-trade carbon tax era in Ontario. According to the government, eliminating carbon taxes will save the average family $260 per year and help reduce gas prices by 10 cents per litre.
The government's announced legislation will include a plan to compensate eligible participants of the program, including the development of new regulations. Participants eligible for compensation will be required to meet the following criteria:
- Participants who were required to participate in the cap and trade program
- Participants whose accumulated costs are currently above and beyond their assessed emissions
- Participants who did not pass program costs down to consumers.
The proposed legislation will also include measures to help replace the cap-and-trade carbon tax with a better plan for achieving real environmental goals.
The CPA will work on ensuring propane is eligible in the measures that will be proposed.
