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Study: Most Businesses Unaffected By Canadian Carbon Prices

by Mike Godfrey, Tax-News.com, Washington

23 November 2015


Less than five percent of Canada's economy would experience significant competitive pressures from differences in jurisdictional carbon prices, according to a new report by the Ecofiscal Commission.

The Commission said that data analysis for British Columbia, Alberta, Ontario, and Nova Scotia suggests that, overall, the Canadian business community should not perceive carbon pricing as a significant economic threat.

According to the report, "For those firms and sectors facing genuine competitiveness pressures, governments can design the carbon pricing policy to address these challenges while still retaining the policy's overall effectiveness at reducing greenhouse gas emissions in a cost-effective manner. Any measures designed to support specific firms or sectors should be targeted, transparent, and temporary."

Commission Chair Chris Ragan said: "For 95 percent of the Canadian economy, business competitiveness would be largely unaffected. The few vulnerable sectors are responsible for roughly 40 percent of Canada's overall greenhouse gas emissions. If they shrink or relocate their activities as a consequence of paying a higher carbon price, our provinces risk economic loss with no overall environmental gain, so we must address these concerns effectively."

TAGS: environment | tax | business | tax rates | carbon tax | Canada | tax reform

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