By Mia Rabson THE CANADIAN PRESS OTTAWA-The federal government’s carbon price could generate more than $5 billion from the federal sales tax over the next seven years, but none of that is directly earmarked for climate programs. The latest figures come from the parliamentary budget officer, based on a private member’s bill introduced last fall by Conservative MP Alex Ruff to eliminate the sales tax from carbon pricing completely. The revenues from the carbon price itself are required by law to be returned to households and businesses through rebates and granting programs. But that does not apply to the sales tax, which is collected on top of the carbon price. The PBO estimates that will be worth about $600 million in 2024-25, rising to $1 billion by 2030-31 in parallel… <\/p>\n
By Mia Rabson THE CANADIAN PRESS OTTAWA-The federal government’s carbon price could generate more than $5 billion from the federal sales tax over the next seven years, but none of that is directly earmarked for climate programs. The latest figures come from the parliamentary budget officer, based on a private member’s bill introduced last fall by Conservative MP Alex Ruff to eliminate the sales tax from carbon pricing completely. The revenues from the carbon price itself are required by law to be returned to households and businesses through rebates and granting programs. But that does not apply to the sales tax, which is collected on top of the carbon price. The PBO estimates that will be worth about $600 million in 2024-25, rising to $1 billion by 2030-31 in parallel... <\/p>\n