How will carbon trading work for you?
Thursday, June 19, 2008 | 01:08 PM ET
Liberal Leader Stéphane Dion revealed details of his party's $15.4-billion carbon tax plan Thursday, a proposal he pledged to be revenue neutral by offsetting the higher costs for burning fossil fuels with broad-based tax cuts.
The proposal would mean new taxes on Canadian industries that produce high carbon emissions and by the fourth year of the plan, the increased cost to an average home could be $225 to $250 per year. However, the Green Shift , as its known, will be offset by income tax cuts.
Dion claims the plan will be "good for the environment and good for the economy good for the planet, good for the wallet."
Dr. Ross McKitrick is an Associate Professor of Environmental Economics at the University of Guelph, and coauthor of Taken By Storm: The Troubled Science, Policy and Politics of Global Warming.
What will this plan mean for you? How does carbon taxing work? What are the benefits and the trade-offs?
On Tuesday, June 24 he took your questions on the carbon tax plan.
Read his answers below.
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