It's hard to say at this moment that Canada is out of step, but the fact that there has been very little discussion spurred on by what has come out of the U.S. and the U.K. governments is worrying. The current Canadian government prides itself on being progressive and is currently being eclipsed in terms of progressive tax measures by the Biden administration and even by the Conservative U.K. administration.
We have seen that the pandemic has been K-shaped. A study by Canadians for Tax Fairness identified over two dozen corporations that enjoyed record profits during the pandemic. While lots of people were struggling to make ends meet, some companies were managing to bring in higher profits than ever before, and they were sending those profits to their shareholders, many of whom had become rich because of decades of the carbon subsidy.
It's been a little bit disconcerting to hear people complain that the fossil fuel industry is not getting the credit it deserves when the fossil fuel industry has been incredibly overdeveloped because we had the carbon subsidy in place.