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
The way Trudeau and Morneau respect our money is the same as a drug addict who says trust me i will quit using drugs today, then tomorrow he is right back to using the same drugs. These two brilliant masterminds of money just don’t seem to get it, that you can never ever borrow, tax and spend your way to prosperity, either personally or as a government. The extreme level of deceit and obfuscation performed by Trudeau and Morneau , all to hide the inconvenient truth about their failure to understand that , you can’t first destroy both the economy… Read more »
you dare use to trudeau’s name in the same sentence as brilliant or mastermind, that poor boy have not got the common sense of a clam.
But just like the Cretin, he seems to relish using political “mussel”.
The GDP/debt ratio is the true measure of the economy efficiency. Both public and private debt must be included. Getting these numbers in Canada especially the province numbers is very difficult. I wonder why? The next step is to compare to other countries. the US will blow Canada out of the water over the next decade. Daddy’s number were bad, Sonny’s numbers will be a debacle
As with each of ‘his’ grand schemes, this will have no effect on him because he will remain independently rich.
That it will have a negative effect on Canadians and the economy is of no interest to him.
His complete world is contained within the reflection he sees in any mirror he looks at and it is that that he is concerned about. To attempt to constructively argue that point at this moment in time is, in my view, simply not possible.
Is anyone surprised by this? This has all been done before. Australia after 2 years abolished this crazy nonsense. Why, because the economy was falling apart and the peasants were starting to revolt. Think about this reality for a second. Every Canadian citizen could DISAPPEAR off the face of the earth tomorrow and our impact on the planet’s ecosystems would not change by any measurable percentages. Yes it’s true, this is the biggest tax scheme in human history with no results except more pain and poverty for us good old Canadians. Enjoy. All these clowns have done since taking power… Read more »
The Conservatives usually try to build the country, more jobs, encourage new business, less taxes, honest book keeping, reduce red tape, protect our Canada, etc., what a government is elected to do. (except Mulroney as he was and is a Liberal). The Lieberals, look for ways to take as much as possible from us, raise taxes, divide us, lose business, more and changing red tape, even their big promise (a repeat of p. Trudeau) to bring in legalized pot, just to get more taxes, get rid of the laws that protect us as a nation and put in laws that… Read more »
The Fact that We as Canadians allowed this tax which was Based on misinformation and a lie and now we are having our lies come back on us is just what we deserve ?
Ed P.
And the effect on global temperature assuming the UN’s computer models are true would be non-detectable. Man-made climate change is a hoax.
A must read or listen too.
Danielle Smith
Exposing B. C.’ Envronmental Hypocrisy
https://www.google.com/amp/s/globalnews.ca/news/4141162/danielle-smith-bc-environment/amp/
Spencer, please keep the above story from Danielle on file. You are going to need it.