Federal carbon tax revenue seen topping forecasts but most households will still come out ahead, PBO says GlobeBusiness
The federal carbon tax will take in more revenue than Ottawa has forecast, but government rebates will ensure all but the highest-income Canadians come out ahead, the Parliamentary Budget Office said in a report Thursday.
The Parliamentary Budget Office projected how much revenue the tax would generate in the four provinces where it applies, as the rate increases from $20 per tonne of carbon dioxide this year to $50 in 2022. There are two components of the tax: the levy on consumer fuels like gasoline and natural gas, and the tax on emissions of large industry.The PBO projected Ottawa will collect $2.4-billion this year from the consumer tax alone while, last October, Finance Canada forecast revenues of $1.
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