Costs of a Cleaner Future
The Modern Miracle Network is excited to share with you a new report from the Conference Board of Canada, calculating the economic costs of a carbon tax.
The Modern Miracle Network is excited to share with you a new report from the Conference Board of Canada, calculating the economic costs of a carbon tax.
This excellent report confirms everything we’ve feared about carbon taxes.
Consumers and workers will pay as businesses are forced to hike prices and lower wages. Families will face higher costs for gas, electricity, and home heating. Individual purchasing power will shrink, household spending will decline, and businesses will have less money to invest in our economy. Real GDP will take a hit, and the federal debt will increase as revenues from personal and corporate taxes fall.
What’s more, a carbon tax will have a negligible effect on reducing emissions. In fact, for some sectors, it might even increase global emissions.
Why? A phenomenon known as “carbon leakage.” If Canada introduces a carbon tax and our trading partners do not, Canadians will substitute Canadian products and energy for cheaper alternatives from across the border and overseas – including from countries that don’t have the same robust environmental protections as we do. We won’t stop consuming hydrocarbons – we’ll just be importing them from faraway lands with less efficient reservoirs and less stringent oversight.
The result? Less economic activity within Canada, and questionable impacts on global emissions.
We know that when it comes to producing the energy we need while preserving the natural environment we value, Canada does it better. We need policies that give the world more Canada. Less Canada can’t possibly be the solution for the planet.
This report proves the need for an adult conversation on hydrocarbons. Modern Miracle Network is proud to have been asked to be a reviewer of this report, acknowledging our expertise in this area. Check out the full document here.
Sincerely,
Modern Miracle Network