Madam Speaker, it does in fact bring me joy to rise in the House today to talk about our government's plan to put a tax or price on carbon pollution and to speak about how it will help Canada's middle class.
It is not conjecture, but rather we know that pricing carbon pollution is the most effective way to reduce emissions and to create a clean-growth economy. For this reason, it is a key part of our government's pan-Canadian framework on clean growth and climate change.
Carbon pricing will provide certainty and predictability for Canadian businesses. It will encourage businesses and Canadians alike to reduce emissions and help Canada transition to a low-carbon economy. Because it is predictable and gradual, carbon pricing will drive innovation and attract investment capital to Canada to create the middle-class jobs of tomorrow and beyond.
Again, this is not conjecture. British Columbia's introduction of a carbon price demonstrates this well. Studies show that carbon pricing reduced greenhouse gas emissions in the province while its economy, including a thriving clean-tech sector, grew faster than that of the rest of Canada. Not only that, but as a result of the B.C. revenue-neutral price on carbon, middle-class families got a tax cut of 5% for the two bottom tax brackets. Today, B.C. has the lowest overall personal taxes in the country, thanks to its carbon tax.
In Alberta, the carbon price will provide financial support for those who need it most, covering 60% of households. These rebates, which will start in July, will put up to $520 in the pockets of middle-class families, and that is cash, not conjecture.
This is why our plan gives all provinces and territories the flexibility to decide how they implement a price on carbon pollution. They can use the revenue as they see fit, including supporting middle-class families in ways similar to the B.C. and Alberta examples that I just gave.
The member for Regina—Wascana has represented his constituents in this House for over 24 years, with considerable success and aplomb, I might add. He knows well the benefits Saskatchewan can see from introducing a carbon price. For example, with a carbon price of $20 per tonne, Saskatchewan could reduce personal income taxes by over one-third, and cut its provincial sales tax by two-thirds. At $30 per tonne, Saskatchewan could completely eliminate sales tax. How about that for protecting the environment and growing the economy?
By putting a price on the things that we do not want, like pollution, provinces can do things that middle-class Canadians want and need, like reducing taxes and creating good, middle-class jobs.