Mr. Speaker, I have to say that the member gets a gold star, because she actually mentioned something so important: The average household gets back more than it pays.
The Conservatives seem to be obsessed with the idea of a secret cover-up, but there is none. We have always fully cooperated with the Parliamentary Budget Officer and will always do so. Our government has been clear: The vast majority of Canadians receive more money back in their pockets with the Canada carbon rebate. The member just said it. I am so happy that she knows this.
We are responding to the growing climate emergency the world is now facing, and Canadians are seeing it as well. From wildfires to increasingly frequent heat waves, floods, droughts and hurricanes, Canadians are becoming increasingly aware that we need to take climate action now. Carbon pricing is an essential start-up to curb emissions, because it cannot be free to pollute.
The Parliamentary Budget Officer's analysis of Canada's carbon pollution pricing system confirmed that the majority of households receive more in Canada carbon rebate payments than they face in direct costs due to pricing. Low- and medium-income households benefit the most. This is so important: Anyone who lives in a rural area or a smaller community receives a 20% top-up to their Canada carbon rebate, reflecting the fact that they may face higher costs and have fewer short-term options to reduce their emissions.
Do not take our word for it. The Governor of the Bank of Canada has explained that carbon pricing contributes no more than 0.15% of inflation per year, a tiny fraction of the high inflation we have seen. Economists estimate that carbon pricing contributes, at most, just 0.33% of grocery price increases.
Putting a price on carbon pollution is a proven method of reducing carbon emissions, and it continues to be the simplest, most effective way to fight climate change. That is exactly what we are doing. Unlike the Conservative Party, we are focused on proven, evidence-based solutions to the most pressing issue facing Canadians. The federal government released Canada's 2024 national inventory report, which shows that Canada is on track to meet our emission-reducing goals for 2026, and also on track for 2030.
Carbon pricing works, and it has been shown to be the most cost-effective way of fighting climate change. The opposition clearly is not interested in what we have to say, but would they listen to Premier Moe? In May 2023, Premier Moe said that Saskatchewan actually considered alternatives to the federal carbon pricing but found that they were all too costly.
Our government is committed to taking action on climate change, and that is exactly what we will continue to do.