The Bank of Canada, the country’s central bank, has admitted that Prime Minister Justin Trudeau’s federal programs for dealing with so-called climate change are helping fuel inflation and have been deemed too extreme by many provincial leaders.
The central bank’s researchers noted in their report, titled “The 2021-22 Surge in Inflation,” that Trudeau’s schemes for supporting the expanded use of renewable energy, including the carbon tax, have been raising costs for consumers for the past few years.
The Parliamentary Budget Office, noted that green energy policies like the carbon tax represented a net cost for most Canadians, and by 2030 would translate to a loss of income. This commitment to reduce carbon emissions comes despite Canada being the world’s fourth-largest producer of oil
