Toronto: Steven Guilbeault, Canada’s Environment Minister Steven Guilbeault reported saying that banks and other financial institutions need to update the way they label carbon-price rebates after another round of the payments went out to Canadians without making it clear where the money came from.
The banks were asked by the Federal government to label the deposits ‘Climate Action Incentive’, but not all have made the change
The deposits which were sent Friday ranged from $186.25 for a family of four in Ontario to $208 in Manitoba, $269.75 in Alberta, and $275.25 in Saskatchewan. The difference in amounts is subject to the variation of the amount of carbon price paid depending on the fuel sources used for heat and electricity.
But depending on where you bank, the deposits also carried vastly different labels including “Canada CAI,” “EFT deposit from Canada,” or an “EFT Credit Canada.” In one case, recipients see the deposit confusingly labelled “NOT Climate Action Incentive.”
The aim of the Liberal carbon-pricing policy is based on the belief that people will change their fuel habits if the price they pay for greenhouse-gas-emitting fuels is rising.
But the government hasn’t been clear in its communications.
Until this year, the rebates were amalgamated into annual tax returns. Canadians who were eligible for a tax refund would have the “climate action incentive” added to their refund cheque, while Canadians who owed taxes would get their tax bills reduced with the incentive going toward their tax bill.
Winnipeg Liberal MP Terry Duguid, the parliamentary secretary for the environment minister said the government is going to follow up with the banks again.
In question period Monday, Conservative Leader Pierre Poilievre demanded the government “cancel their plan to triple the tax.”
“People cannot afford these taxes,” he said.
#Canada; #CarbonActionIncentive
