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SASKATOON — The Canadian Taxpayers Federation estimates the carbon tax will cost the Saskatchewan economy $476 million in 2024, based on data published by Environment and Climate Change Canada.

In a release issued by the CTF, Gage Haubrich, prairie director, said,“The government’s own numbers show that the federal carbon tax is costing the Saskatchewan economy millions.”

He added, “The carbon tax costs Saskatchewanians every time they head to gas station and it’s costing the economy big time.”

The government of Canada data modelling the economic cost of the carbon tax between 2018 and 2030. Based on this data, the CTF estimates the carbon tax will cost the Saskatchewan economy $476 million in 2024, or $390 . The carbon tax will cost the Canadian economy $12 billion this year.

In 2030, the carbon tax will cost the Saskatchewan economy $1.5 billion, or $1,085 per person.

The economic cost is the difference between what GDP would be without the carbon tax minus the projected GDP with the carbon tax, says the CTF.

The table at the end of this news release breaks down the economic cost to each province and territory and the economic cost per person this year.

“Ottawa needs to make life more affordable instead of hurting Saskatchewan’s economy with the carbon tax,” said Haubrich. “Prime Minister Justin Trudeau needs to scrap the carbon tax.”

Economic cost of carbon tax (2023 $)

Note: A negative figure represents an economic benefit.