Too early to tell financial impact of cap-and-trade in Ontario, watchdog says

November 24, 2016 by Billy Hamshaw

(Source: CBC news) Ontario’s government spending watchdog says there are too many uncertainties for it to determine the financial impact of the Liberal government’s cap-and-trade program to fight climate change, which starts Jan 1, 2017. The financial accountability office released a report Wednesday saying it needs more data on how the government plans to spend the $1.9 billion it expects to raise each year from auctioning pollution emission credits to industries. “Given the uncertainty surrounding revenues, and without more specific information on planned expenses, the FAO cannot forecast the fiscal impact of cap and trade in any particular year with sufficient precision to be useful,” concluded the report. Read full article…

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