The carbon tax approach to reducing GHGs is accepted by experts globally

Elizabeth May

Mr. Speaker, I will follow up on the last question from my hon. colleague from Vancouver Quadra.

The carbon tax approach to reducing greenhouse gases is accepted by experts globally, including The Economist and the International Monetary Fund. It is very establishment-accepted by economists that it is a precursor to basically correct a market failure by making it cost something to dump pollution in our shared atmosphere. At the same time, we need to take steps to eliminate subsidies.

However, these are just foundational steps. They are insufficient to actually address the threat we are facing with the climate crisis.

Has my hon. colleague studied the estimates that the Canadian economy could be experiencing losses of billions or tens of billions of dollars a year by failing to take action?

Kelly McCauley Member for Edmonton West

Mr. Speaker, the member talks about costs to the economy. We know what the cost to the economy of the carbon tax will be. The PBO says it is going to be a $10-billion cost to the economy and to Canadians.