Parliamentary Budget Officer reveals cost of carbon tax to overall economy.
For many months, the Trudeau government has repeatedly refused to reveal what cost the carbon tax will have on Canada’s economy.
Now, the Parliamentary Budget Officer has revealed that cost.
According to the PBO report, Canada’s GDP will be $10 billion lower by 2022 than it would have been without the carbon tax.
The report also notes that public debt expenses will increase dramatically from the $24.1 billion recorded in 2016-2017, to $39.1 billion in 2021-2022.
So, that’s $10 billion less in GDP, and $15 billion more in debt as a result of Trudeau government policies.
And, keep in mind that’s not even including the tens of billions in investment that has already been lost.
Weakening growth
The PBO report also reveals weakening economic growth projections. According to the PBO, GDP growth will fall to 1.9% in the next two years, followed by two years of even weaker 1.5% growth.
So, we are looking at a picture of weaker growth, lower GDP because of the carbon tax, and escalating debt costs.
This report makes it clear that the carbon tax will have a negative impact on Canada’s economy, something the Trudeau Liberals claimed would not happen.
As a result, another lie from this government has been exposed. And, we can see exactly why the Trudeau government remains so desperate to hide as many carbon tax details as they can. They still won’t say what the impact of the tax will be on the pocketbooks of Canadians, and if that info is anywhere as bad as the info in this latest PBO report, we can expect the government to do everything possible to keep hiding the truth from the people.
Spencer Fernando
Photo – YouTube
