Fraser Institute News Release: Federal government’s emission-reduction plan will cost Canadian workers $6,700 annually by 2030—while failing to meet government’s emission-reduction target
18 Julio 2024 - 4:00AM
The federal government’s plan to reduce greenhouse gas emissions
will impose significant costs on Canadians—while also failing to
meet the government’s own emission-reduction target, finds a new
study published today by the Fraser Institute, an independent,
non-partisan Canadian public policy think-tank.
“The government’s plan will significantly hurt Canada’s economy
and cost workers money and jobs,” said Ross McKitrick, professor of
economics at the University of Guelph, senior fellow at the Fraser
Institute and author of The Economic Impact and GHG Effects
of the Federal Government’s Emissions Reduction Plan through
2030.
The government wants to reduce greenhouse gas (GHG) emissions to
40 per cent below 2005 levels by 2030. To meet this target, the
government has enacted a series of policies including the federal
carbon tax, clean fuel standards and various other GHG-related
regulations such as energy efficiency requirements for buildings,
fertilizer restrictions on farms, and electric vehicle
mandates.
The study finds that these combined policies will only reduce
GHG emissions by an estimated 57 per cent of the government’s 2030
emission-reduction target.
And crucially, by 2030 these policies will:
- reduce Canada’s GDP by 6.2 per
cent
- cost $6,700 per worker annually
- reduce employment in Canada by 164,000
jobs
“This poorly-designed plan, which will worsen the current
downward trends in productivity and income, will reduce emissions
but at a cost many times higher than the government’s estimated
benefits,” McKitrick said.
MEDIA CONTACT: Ross McKitrick, Senior Fellow,
Fraser Institute
To arrange media interviews or for more information, please
contact:Bryn Weese, Director of Communications, 604-688-0221 ext.
589,bryn.weese@fraserinstitute.org
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The Fraser Institute is an independent Canadian public policy
research and educational organization with offices in Vancouver,
Calgary, Toronto, and Montreal and ties to a global network of
think-tanks in 87 countries. Its mission is to improve the quality
of life for Canadians, their families and future generations by
studying, measuring and broadly communicating the effects of
government policies, entrepreneurship and choice on their
well-being. To protect the Institute’s independence, it does not
accept grants from governments or contracts for research. Visit
www.fraserinstitute.org