Carney’s fuel tax pause rewards polluters

Instead, the government should implement what the EU did in 2022, what Canada did during both world wars, and what civil society groups have been calling for for ages: a windfall profits tax on the oil and gas industry. A 33 per cent tax on windfall profits could raise $18 billion this year. A 75 per cent tax, like we implemented during the Second World War, could raise $46 billion.

This revenue could be used to both directly compensate consumers for higher short-term costs through cash transfers, and to invest in the transition away from our reliance on volatile fossil fuel markets. It would be not just a band-aid but a treatment plan. A treatment that involves bucking our addiction to fossil fuels and providing Canadians with sustainable, affordable energy for the long-term.