Environment Minister Catherine McKenna and Prime Minister Justin Trudeau have finally outlined in recent media interviews what Canada’s carbon pricing/tax policy will look like if the Liberals win next year’s election.
McKenna told The Canadian Press last week that by the end of 2020, a re-elected Trudeau government will introduce tougher industrial greenhouse gas emission reduction targets than its existing ones.
“In 2020, everyone has to come back and be more ambitious,” McKenna said.
What she didn’t say, but is inevitable, is that if Canada’s emission targets are going to be tougher post-2020, then the re-elected Trudeau government will have to increase its current national, mandatory carbon price/tax of $20 per tonne of emissions starting in 2019, rising $10 annually to $50 per tonne in 2022.
This addresses the issue repeatedly raised in federal documents, as my Sun colleague Anthony Furey has reported, that the Trudeau government intends to review its current emission targets and carbon pricing levels post-2022, without giving any indication of what that means.
Now we know, if re-elected, Trudeau will make those targets tougher and raise carbon prices, possibly as early as 2020.
Since almost all goods and services consume fossil fuel energy, that means Canadians will pay higher taxes and prices on them than under Trudeau’s current plan.
How high Trudeau will raise carbon prices following a Liberal election victory is anyone’s guess.