The revelation this week that Prime Minister Justin Trudeau’s carbon tax will cost the Canadian economy $25 billion in lost Gross Domestic Product growth by 2030 shows that the tax is a failure – by the government’s own standards.
News that the government’s figures confirm a 1% reduction in GDP over the next six years – a calculation the Liberals tried for weeks to hide from Canadians – has been greeted with something of a ho-hum. The attitude of a lot of observers has been, “It’s only 1%.” When the government was covering up its study, the assumption was that it must be really bad. One per cent seems tiddly.
