ON: Ontario introduces legislation to end cap and trade carbon tax era in Ontario
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.