Relief on the Way: Ontario Passes Legislation to End Cap and Trade Carbon Tax
Ontario Newsroom October 31, 2018
Ontario Newsroom October 31, 2018
Legislative Assembly of Ontario July 25, 2018
Current status: First Reading Carried on division
The Bill sets out the Cap and Trade Cancellation Act, 2018, which repeals the Climate Change Mitigation and Low-carbon Economy Act, 2016 and provides for various matters related to the wind down of the Cap and Trade Program.
Ontario Newsroom July 25, 2018
The government's announced legislation will include a plan to compensate eligible participants of the program, including the development of new regulations. Participants eligible for compensation will be required to meet the following criteria: • Participants who were required to participate in the cap and trade program • Participants whose accumulated costs are currently above and beyond their assessed emissions • Participants who did not pass program costs down to consumers. The proposed legislation will also include measures to help replace the cap-and-trade carbon tax with a better plan for achieving real environmental goals.
Ottawa Citizen July 23, 2018
A $64-million program that was helping cash-strapped hospitals save millions on electricity bills is among the provincial programs that have been cut as a result of the scrapping of cap and trade in Ontario.
Ministry of Transportation July 11, 2018
Given the Electric and Hydrogen Vehicle Incentive Program and the Electric Vehicle Charging Incentive Programs are funded through cap-and-trade proceeds, these programs are cancelled.
In addition, the Electric Vehicle Charging Incentive Program is cancelled effective July 11.
CP24 July 09, 2018
Ontario's new Tory government has cancelled a $100-million fund earmarked for school repairs this year, a cut that comes as a result of Doug Ford's campaign promise to scrap the province's cap-and-trade system. School boards were notified on July 3 that the Greenhouse Gas Reduction Fund would be eliminated and that only work contracted on or before that date would be covered.
http://archive.is/BDdd6 July 03, 2018
1. For the purposes of subsection 21 (3) of the Act, no registered participant shall, on and after the day this Regulation comes into force, purchase, sell, trade or otherwise deal with emission allowances and credits.
2. Ontario Regulation 144/16 is revoked.
Ontario News Release July 03, 2018
Ontario Premier Doug Ford today confirmed that, as the first order of business of Ontario's Government for the People, his cabinet revoked the regulation that punishes Ontario residents at the gas pump through a wasteful cap-and-trade carbon tax regime; this measure comes into effect July 3, 2018. In order to fulfill this election commitment, the Government of Ontario will immediately begin an orderly wind-down of all programs funded out of cap-and-trade carbon tax revenues.
To ensure an orderly wind-down of programs funded through the cap-and-trade carbon tax, Ford committed that his government will honour arrangements where contracts have already been signed and orders have already been made, such as energy efficient insulation and window retrofits. Decisions to continue any specific initiatives currently supported by the fund will need to be paid for out of the tax base
This release also specifies new spending in terms of covering existing contracts through normal government revenue rather than Cap and Trade. It remains to be seen how much this will cost. If it's not significant, then it probably won't threaten the promise state as they promised the cancellation would essentially be revenue-neutral.
GreenON Website June 19, 2018
Government of Ontario News Release June 15, 2018
The Premier-designate confirmed that he has directed officials to immediately take steps to withdraw Ontario from future auctions for cap-and-trade credits. The government will provide clear rules for the orderly wind down of the cap-and-trade program.
Mike Crawley - CBC - Twitter May 16, 2018
PC campaign says $1.9 billion less revenue from cutting cap and trade would be offset by cutting everything it funds … such as home energy retrofits & electric vehicle subsidies.