The report suggests the province will lose 3 billion dollars in revenue by the cancellation of the Cap and Trade program.
Rod Phillips says the other way of looking at the report is that the government is saving taxpayers billions of dollars by scrapping a new tax.
“When we made it a committment about affordability for the people of Ontario, we made it knowing that meant that we were going to reduce revenues for government. We were reducing revenues for a program that wasn’t working. A regressive, job killing tax. 264 dollars per family is confirmed in this report.”
Phillips adds that the FAO report also confirms the provincial government will be paying out five million dollars to compensate companies for cancelling green energy projects funded by Cap and Trade.