Philip Lawrence at the Government Operations and Estimates Committee

On March 27th, 2024. See this statement in context.

March 27th, 2024 / 1:10 p.m.

Conservative

Philip Lawrence Conservative Northumberland—Peterborough South, ON

Thank you.

I rarely correct you, Mr. Giroux, but on this occasion I am going to correct you.

The Governor of the Bank of Canada said at the finance committee that 0.6% of inflation is directly a result of the carbon tax. It's the increase that's 0.15%. It would be 0.6% this year if it were removed and an ongoing 0.15%. After the April 1 increase, if we don't cancel the hike, it will be nearly 0.8% of inflation.

I understand you haven't studied food specifically, but if it's reducing the overall basket of goods by 0.8%, it almost certainly has to increase the cost of food. Is that not correct?

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