Ontario Premier Ford announces end of Cap-and-Trade Carbon Tax Era

As the first order of business of Ontario's Government for the People, Ford had his cabinet to revoke the regulation of the wasteful cap-and-trade carbon tax regime

Ford further said that the Government of Ontario will immediately begin an orderly close down of all programs funded out of cap-and-trade carbon tax revenues.

Ford committed that a case-by-case basis would be processed  in alignment with the Ford government's Plan For the People and the upcoming value-for-money audit.   

"Every cent spent from the cap-and-trade slush fund is money that has been taken out of the pockets of Ontario families and businesses," said Ford. "We believe that this money belongs back in the pockets of people. Cancelling the cap-and-trade carbon tax will result in lower prices at the gas pump, on your home heating bills and on virtually every other product that you buy."

The cap-and-trade system, said  Auditor General, who conducted an audit of the program, could cost Ontario consumers and businesses $8 billion with a negligible impact on the province's carbon emissions.

"Cap-and-trade and carbon tax schemes...do nothing for the environment, while hitting people in the wallet in order to fund big government programs," said Ford. "I promised that the party with taxpayers' dollars was over and...Today we are keeping that promise."

"We are getting Ontario out of the carbon tax business," concluded Ford. "Our focus will be to give people lower gas prices, lower energy bills and a real break in their wallets in order to get our economy going and create jobs. Help is here."

(Reporting by Asha Bajaj)