In the news today: Pros and cons of dropping consumer carbon tax, new Ontario cabinet

Yahoo

19-03-2025

Here is a roundup of stories from The Canadian Press designed to bring you up to speed...
End of carbon levy will ease pain at pumps: report
Canadians can expect to feel the absence of the consumer carbon price at the pumps immediately but it may take longer to notice a difference in the price of other goods, a new report released Wednesday suggests.
The analysis by Desjardins Economics comes less than a week after Prime Minister Mark Carney and his new Liberal cabinet ordered that the consumer levy be set to zero on April 1.
The carbon price came with a quarterly rebate to offset the cost of inflation; the final rebate will come in April.
The report suggests that move will push overall inflation down over the next year as a result of Ottawa's decision to kill the consumer price on carbon pollution.
End of carbon tax leaves $1.5B hole in B.C. budget
British Columbia's budget shows that the impending end of the province's consumer carbon tax will leave a roughly $1.5-billion hole in its revenue streams, with one expert saying that "there will be both winners and losers" from the change.
The budget released earlier this month shows the province was forecasting revenue of just over $2.5 billion from the tax in the 2024-25 fiscal year, while the estimated cost of the climate action tax credit was $995 million.
Werner Antweiler, associate professor at the Sauder School of Business at the University of B.C., says that leaves about $1.5 billion in revenue the province will need to make up, which could include cutting spending or raising taxes elsewhere.
He says the end of the consumer carbon tax will bring relief at the gas station — as much as about 17 cents per litre.
Ontario Premier Doug Ford set to name new cabinet
Ontario Premier Doug Ford is set to name his new cabinet today, three weeks after winning a third consecutive majority government.
Lt.-Gov. Edith Dumont will swear in the premier and his executive council in a ceremony at the Royal Ontario Museum.
Ford did not give any hints Tuesday as to whether he would keep a lot of his previous ministers in their posts or if he was looking at a major shake up.
But he said that he still plans on directly dealing with the tariff threats from the United States, suggesting he may not create a new ministerial portfolio focused on that.
Ford has been increasing the size of his cabinet since he was first elected in 2018 and his last cabinet grew in August to 37 people after he brought new associate ministers on board.
Saskatchewan set to introduce budget
Saskatchewan is set to table its budget today outlining the province's plans to boost spending on health care, education and crime reduction.
Premier Scott Moe has said increased investment in those areas is meant to reduce surgical wait times, improve Grade 3 reading levels and make communities safer.
Moe has also pledged to freeze the education property tax while providing more money to municipalities.
This is the Saskatchewan Party government's first budget since Moe was re-elected premier last fall.
His platform promised deficits in the first three years to accommodate increased spending and provide broad-based tax relief, which was passed through legislation last year.
Vancouver car show removes Tesla over event safety
Tesla has been removed from participating in this week's Vancouver International Auto Show over safety concerns, the event's executive director says.
Eric Nicholl said Tuesday that the show asked the electric carmaker to withdraw because of a "primary concern" for the safety of workers, attendees and exhibitors.
Nicholl said the decision wasn't easy, but was made "in light of the recent escalating events throughout North America."
Tesla did not immediately reply to an emailed request for comment about the auto show. The Vancouver Police Department did not immediately respond to an emailed request for comment about any safety or security concerns about Tesla and the auto show.
Shopify shares to start trading on Nasdaq
Shopify Inc. is moving its U.S. stock exchange listing to the Nasdaq from the New York Stock Exchange, beginning March 31.
The Canadian technology company says its TSX listing won't be affected, and its SHOP stock ticker will remain the same.
The company did not provide a reason for the move.
Last month, Shopify listed a U.S. address alongside its Canadian headquarters for the first time in an annual regulatory filing with the U.S. Securities and Exchange Commission.
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This report by The Canadian Press was first published March 19, 2025
The Canadian Press