Federal carbon price weighing heavily in decision
A federal carbon price will mean a price increase in P.E.I. next summer. But whether or not the P.E.I. government maintains a provincial gas tax cut could mean the difference between a 3.3 cents/litre increase and a 6.6 cents/litre increase next summer. - Ernest Doroszuk/Toronto Sun/PostmediaCHARLOTTETOWN, P.E.I. — The P.E.I. government has offered mixed signals on whether or not it will increase provincial gasoline taxes once a federal carbon price is imposed in P.E.I. in July of 2023.
“That will be removed. Because we don't have the income anymore, that will be removed," Myers said during a Nov. 25 media scrum when asked whether the provincial gas tax cuts would be maintained. This will mean price increases at the pumps. But it will also mean most households in the province will receive hundreds of dollars every three months in the form of rebate cheques.
Since 2019, the P.E.I. government’s policy has been to shield Island drivers and homeowners from carbon levy price increases. The province has used millions of dollars in carbon tax revenue to reduce its own provincial gas taxes – nullifying a large part of the price increase at the pump., between April 1, 2019, and March 31, 2021, the province spent $23.8 million of its carbon tax revenue on these tax cuts. The province is forecasting it will spend another $12.
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