The federal government owes Canadian families in three provinces more than $200 million after underestimating how much it would raise from the carbon tax during the first year of the program.
Finance Canada thought the new price on pollution would bring in about $2.3 billion in 2019. When the final tallies were counted however, the program raised $2.42 billion.
By law, all revenued from the carbon price are to be returned to the province in which they were raised, with 10 per cent going into funds to help smaller businesses, schools, hospitals and municipal governments cut their own emissions and 90 per cent going to families through income tax rebates.
