Mr. Speaker, I was interested by a question from one of the member's colleagues, a Conservative member, who said, if I remember correctly, that taxes comprise 42% of the price of gasoline. I believe that is incorrect. I just did a little work on it. Maybe the member could comment. If we have a $1 commodity price and add the 10¢ federal excise and the roughly 15¢ provincial excise, that gives us $1.25. If we add the GST, which is another 8.75, we get $1.33 at the pumps.
In the House of Commons on September 26th, 2005. See this statement in context.