I have a very similar answer. A lot depends on what else you are doing. If you're doing big investments in public transit, which is going to help people get out of cars, if you're bringing in a zero emissions vehicle mandate so that there is a required percentage of vehicles that are electric, you can do it with a lower carbon price.
At a minimum, I would agree with continuing the $10 per year increase, but I think it could go much higher. If you're just doing carbon pricing, the price would have to be much higher, particularly if you're looking at trying to keep within the 1.5°C target, as put out by the IPCC. They argue that there are benefits to communities and to nature from lower emissions and faster action on reductions.
We should be sending a signal that it is going to be at least $10 per year so that industry can make investments appropriately. They know that's coming. My preference would be that all money from carbon pricing get reinvested into other measures that are going to reduce greenhouse gas emissions.
In Ontario, we're actually getting a bigger bang from the reinvestment of cap-and-trade dollars than we were from the pricing law itself. It depends on how you spend the money, but it has to keep going higher. It has to keep going up. I understand the decision today to rebate individuals to help ease that transition, but we also have to increase investments in green infrastructure.