Conservatives argue the Liberal government’s climate measure drives up the cost on everything. The inflation-watching head of the central bank offered some perspective on this.
It’s inescapably true that the federal carbon tax makes life for Canadians more expensive — before the “climate action incentive” rebate — and Bank of Canada governor Tiff Macklem reiterated this on a visit to Calgary on Thursday.
Pierre Poilievre’s Conservatives have made much sport of arguing the Trudeau Liberals’ tool to fight climate change has severely affected the affordability of fuel, groceries and other goods.
In questions following a luncheon address to the Calgary Chamber of Commerce, the central bank head said his team’s inflation-watching takes into consideration the Trudeau government decision to annually hike its price on carbon by $15 per tonne.
Normally one to deal in data rather than estimates, Macklem didn’t offer a more universal figure on the carbon tax, with the direct fuel markup added to the indirect costs those increases have on goods.
These impact measurements do not account for the fixed-price rebate the Trudeau government makes to households every quarter, the climate action incentive payment meant to offset the carbon tax’s added costs on vehicle fuel and home heating.
On the one hand, that provides a buffer to the inflationary burden that the levy creates; on the other, more money stuffed into Canadians’ bank accounts could itself put upward pressure on the increased demand that drives inflation.
The original article contains 812 words, the summary contains 214 words. Saved 74%. I’m a bot and I’m open source!
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !canada@lemmy.ca
This is the best summary I could come up with:
It’s inescapably true that the federal carbon tax makes life for Canadians more expensive — before the “climate action incentive” rebate — and Bank of Canada governor Tiff Macklem reiterated this on a visit to Calgary on Thursday.
Pierre Poilievre’s Conservatives have made much sport of arguing the Trudeau Liberals’ tool to fight climate change has severely affected the affordability of fuel, groceries and other goods.
In questions following a luncheon address to the Calgary Chamber of Commerce, the central bank head said his team’s inflation-watching takes into consideration the Trudeau government decision to annually hike its price on carbon by $15 per tonne.
Normally one to deal in data rather than estimates, Macklem didn’t offer a more universal figure on the carbon tax, with the direct fuel markup added to the indirect costs those increases have on goods.
These impact measurements do not account for the fixed-price rebate the Trudeau government makes to households every quarter, the climate action incentive payment meant to offset the carbon tax’s added costs on vehicle fuel and home heating.
On the one hand, that provides a buffer to the inflationary burden that the levy creates; on the other, more money stuffed into Canadians’ bank accounts could itself put upward pressure on the increased demand that drives inflation.
The original article contains 812 words, the summary contains 214 words. Saved 74%. I’m a bot and I’m open source!