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Economists defend the carbon price set by liberals amid escalating political rhetoric

Economists defend the carbon price set by liberals amid escalating political rhetoric

By Mounira Magdy

Published: March 27, 2024

Dozens of Canadian economists have issued an enthusiastic defense of the price Canada imposes on carbon, as the government faces increasing pressure from opposing conservatives and regional premiers to stop the planned increase in the tax.

An increasing number of premiers have joined the federal Conservative Party and opposed raising the carbon price from $65 to $80 per ton as scheduled on April 1.

The economists issued an open letter in response to the intense political discourse, which has garnered 80 signatures from academics across the country by Tuesday afternoon.

The letter included that the signatories support the heated public debate, but it must be based on facts and sound evidence.

The economists said that many of the arguments against the carbon price are based on myths, and that the tax is actually the least costly way to achieve Canada’s climate goals.

The letter added that the strongest opponents of this policy have not mentioned how they would be able to reduce greenhouse gas emissions at a lower cost.

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