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June 12th, 2019Committee meeting
Yves Giroux
Environment committee Of course. It is on page 7 of the English version of the report, and on page 8 in the French version.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee Of course. Figure 2-1 shows that both tax revenues and the price of carbon will increase significantly between 2019 and 2024. However, the price of carbon will increase by 150%, at a higher rate than revenues. This means that carbon intensity will decrease. The percentages shown—-15%, -7%, -4%, -6%, -6% and -6%—are those of the greenhouse gas reductions to be expected in each province.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee That's $401.
June 12th, 2019Committee meeting
Yves Giroux
June 12th, 2019Committee meeting
Yves Giroux
Environment committee That's a fair assessment, indeed.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee Thank you. In Ontario, we've estimated that starting in this current fiscal year, they will pay between $131 for the lowest-quintile households and up to $401 for the richest quintile.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee The federal model provides that the government will return 90% of the revenues generated by the tax to taxpayers. Those rebates are paid to taxpayers slightly in advance. Therefore, if the total amount of rebates to taxpayers is higher than the amount the government is able to obtain through the tax, future rebates will have to be reduced accordingly to ensure that the 90% is met.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee Yes, we have measured it. We started from assumptions or data provided to us by, among others, the National Energy Board. I'm looking at a 22-page report and I can't find, unfortunately, the page where the reductions are mentioned. We have—
June 12th, 2019Committee meeting
Yves Giroux
Environment committee No. I think I'm confusing that with the data report.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee Of course. For the second quintile, it's $179, and for the third, it's $245.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee The fourth is $305.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee That's in the first year.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee The cost is indeed different, and that's a question that we've received quite a lot, but we didn't distinguish between rural and urban. We distinguished just by province and by income quintile, because there would be additional complexities in trying to determine what's rural and what's urban.
June 12th, 2019Committee meeting
Yves Giroux
Environment committee That's a very good question. I would assume that it's close to 100%, but I'm not certain, so I shouldn't put a number on it—
June 12th, 2019Committee meeting
Yves Giroux