IMF Calls for Higher Taxes on Fossil Fuels Around the World, including Canada

Getting Energy Prices Right: From Principle to Practice “green-shift” tax analysis calculates the cost of carbon energy – including health effects of pollution – in 156 countries, and proposes precise levels of taxation: higher levels on fossil fuels, and lower levels on people and capital. Their prescription is gradual tax increases which would be balanced by decreases to income taxes – for Canada, the tax increases average out to about 52% on gasoline and diesel.

Canadian Finance Minister Joe Oliver rejected the proposals, according to a report at the CBC website at: http://www.cbc.ca/news/business/imf-calls-for-green-shift-with-52-gas-tax-hike-in-canada-1.2724294. See also the Globe and Mail article at: http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/imf-calls-on-canada-to-raise-carbon-taxes-cut-income-taxes/article19872600/.

The full report is available for purchase ($28) at: http://www.imfbookstore.org/ProdDetails.asp?ID=9781484388570.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s