CARBON TAX -AN EFFECTIVE STRATEGIC TOOL OR THE WRONG TOOL AT THE WRONG TIME (original) (raw)
Carbon taxes are viewed by some national and international policy makers as a necessary cornerstone in Greenhouse Gas emission reduction strategies. Carbon taxes have a twofold purpose: (i) to increase the price on fuel to induce behavioural changes which in turn incentivize consumers to (ii) seek lower carbonintensive available options, which ultimately leads to reductions in GHG emissions. This paper describes the development of the Canadian federal carbon tax policies, and its role and utility in reducing GHG emissions. Since 2016 the government of Canada has expended $110 billion to reduce GHG emissions. The revenue neutral carbon tax scheme contributes a pittance to the funding of the hundreds of federal, provincial and territorial carbon reduction initiatives and actions and in its effectiveness of cutting GHG emission reductions. Market influences have trivialized any emission reduction incentives by government policies increasing the cost of fuel. Options for substituting non carbon alternatives are in their early stages of development and require more lead time to become viable. The carbon tax implementation coupled with the recent economic turmoil, continuing inflation and looming recession has adversely affected all Canadians and points to the conclusion that the carbon tax, at this time, is unnecessary and unneeded.
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