TORONTO, ON: The Canadian Taxpayers Federation (CTF) is thrilled that today the Ontario government passed Bill 4, The Cap and Trade Cancelation Act.

“Ending cap and trade means a tax savings of $7.2 billion for the people of Ontario, and we are ecstatic that the government is getting their hands out of taxpayers pockets,” said CTF Ontario Director, Christine Van Geyn.

Cap and trade came into effect on January of 2018, and used a complex system of carbon credits that Ontario businesses were required to buy and could trade between one another and with businesses in Quebec and California.

“Cap and trade was a tax on the necessities of life. It was a tax on heating your home in the winter, driving to work or to pick your kids up from school, and it was a tax that was going to keep going up. Meanwhile, it achieved nothing for the environment, and it was funnelling billions of dollars out of Ontario and into Quebec and California,” continued Van Geyn.

“Ending cap and trade is the right thing to do, and will make life in Ontario more affordable. At CTF, we are also excited that the Ford government will be fighting the federal government’s plans to impose a carbon tax onto Ontario voters who roundly rejected it.”