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4 Comments
I really don’t see how this is going to move the needle at all. Anyone who was too dumb to put two and two together that random $200+ deposit in their account labelled “Canada climate incentive” or whatever it was, was in fact the carbon rebate is not going to read the new label and finally understand the system.
This policy was dead as soon as they carved out the Atlantic Canada home heating oil exception and you had Liberal Ministers saying the quite part out loud that if the ROS wanted exceptions they should “vote in more Liberals”.
The Consumer pricing accounts for less than 10% of the total reduction, its a little baffling why they are so married to such a small part of the broader strategy, that has become so politically toxic. A pause or even canceling it is just the kind of hail Mary that might give them some leverage to narrow a 20 point gap.
It costs almost all Canadians more than they get back in ‘rebates’…….including the middle-class.
It’s all spelled out in the Chart on page 19 of the PBO Report.
“But when economic impacts are factored in, like loss of employment due to the fuel charge, the average household will get back less money than what they pay towards the carbon tax.
“The updated estimates continue to show that the average household across most income quintiles will face a net cost when both fiscal and economic impacts of the federal fuel charge are considered,” the PBO report states.”
https://www.ctvnews.ca/politics/poilievre-guilbeault-claim-victory-after-federal-budget-watchdog-s-updated-carbon-tax-report-1.7069629
This is a really big deal. As governments deliver more services online and the number of direct payments to people proliferate, there *needs* to be standardization of names of each payment in both folks’ bank accounts and the CRA website.
We all know there will be times when the CRA tries to clawback a payment and if the person cannot identify each direct payment by name, good luck to them contesting the clawbacks. Personally, I find it maddening that people look at this issue and somehow take the stance that it should be more difficult to understand whether a payment is the carbon rebate, OAS, GIS, CPP, EI, GST rebate, income tax rebate, etc. Pretty soon there will be dozens of individual payments and if they’re all labeled “CANADA – TRANSFER” then who the hell knows if you’re being paid the right amount.
It should be clear and obvious.
Hopefully this sets a precedent for the future governments thinking about how the banks label these transfers and how the banks respond to government labeling requirements.