Mr. Speaker, in setting a price on carbon today, the Prime Minister made the assumption that the price would reduce greenhouse gas emissions and hopefully not have any detrimental impact on the Canadian economy. In setting a price, one would assume that the Prime Minister had done a detailed analysis of the inelasticity of carbon prices.
Could my colleague opposite validate the Prime Minister's assumption that a $50 tax on carbon would actually reduce greenhouse gas emissions by stating the data on inelasticity is for carbon pricing that the government used to make this decision?