Federal carbon price plan sparks fears among five Canadian industries
The national minimum price on carbon proposed by Prime Minister Justin Trudeau on Monday has sparked fears from several Canadian industries that their costs and product prices will rise and their ability to compete with international rivals will suffer.
The actual impact is unclear, they say, as implementation details are missing from the federal plan to impose a carbon price in provinces without one. The federal program would impose a minimum carbon price of $10 a tonne in 2018, rising by $10 per year until reaching $50 per tonne in 2022. The funds raised are to go back to the provinces but what happens then is also not known.
Here is how the new policy is expected to affect five industries in Canada.
Auto manufacturing