Less than 1% of the $22B in federal carbon tax revenues have been returned to small businesses
As someone who has witnessed the real struggles of Canadian families, I find the Liberal government’s approach to carbon taxation increasingly out of touch with the realities of daily life. The financial burden of the carbon tax is not just an abstract policy debate; it’s a tangible hardship for many.
The carbon tax rate in Canada has been on a steep incline, reaching $80 per tonne in 2024, up from $65 per tonne in 2023. This increase significantly affects the costs of essential goods and services, hitting hardest on necessities like fuel, utilities, and transportation. For instance, the tax rate on marketable natural gas, a common household fuel, has increased from $0.1239 per cubic metre in 2023 to $0.1525 in 2024, and is projected to rise further.
Moreover, the carbon tax’s impact on small businesses is alarming. Despite the government collecting approximately $22 billion in carbon tax revenues, less than 1% of these funds have been returned to small businesses. This lack of support is stark, especially considering that small businesses are estimated to contribute close to half of the carbon tax revenue collected by the government.
The implications are clear: as the carbon tax escalates, so does the financial pressure on Canadian families and businesses. This taxation approach seems to disregard the fact that Canada’s emissions are relatively minor on the global scale, yet Canadians are being heavily taxed as if to single-handedly combat global climate change.
The focus needs to shift from taxing Canadians into economic hardship to fostering innovation and building a sustainable future. We should be investing in technologies and solutions that not only address environmental concerns but also bolster our economy and enhance our citizens’ quality of life.
It’s time for the government to reconsider its approach. Taxation without adequate rebates or support, especially during a time when Canadians are grappling with housing and food security issues, is not the solution. We need policies that are balanced, fair, and truly reflective of the Canadian spirit of innovation and resilience.
The Westward Independent stands with the hardworking people of Cowichan Valley and all Canadians who believe in a government that prioritizes its people, encourages innovation, and focuses on making Canada a better place for all.