The Canadian Taxpayers Federation estimates the carbon tax will cost the Saskatchewan economy $476 million in 2024, based on data published by Environment and Climate Change Canada.

“The government’s own numbers show that the federal carbon tax is costing the Saskatchewan economy millions,” said Gage Haubrich, CTF Prairie Director. “The carbon tax costs Saskatchewanians every time they head to gas station and it’s costing the economy big time.”

The government of Canada released data modelling the economic cost of the carbon tax between 2018 and 2030. Based on this data, the CTF estimates the carbon tax will cost the Saskatchewan economy $476 million in 2024, or $390 per person. The carbon tax will cost the Canadian economy $12 billion this year.

In 2030, the carbon tax will cost the Saskatchewan economy $1.5 billion, or $1,085 per person.

The economic cost is the difference between what GDP would be without the carbon tax minus the projected GDP with the carbon tax.

The table at the end of this news release breaks down the economic cost to each province and territory and the economic cost per person this year.

“Ottawa needs to make life more affordable instead of hurting Saskatchewan’s economy with the carbon tax,” said Haubrich. “Prime Minister Justin Trudeau needs to scrap the carbon tax.”

Economic cost of carbon tax (2023 $)

Region Economic cost 2024 Per person economic cost
Canada $11.9 billion  $295
British Columbia $1.7 billion  $311
Alberta $1.8 billion  $372
Saskatchewan $476 million  $390
Manitoba $216 million  $150
Ontario $4.1 billion  $258
Quebec $3.2 billion  $361
New Brunswick $137 million  $169
Nova Scotia $103 million  $99
Prince Edward Island $22 million  $122
Newfoundland and Labrador $143 million  $274
Northwest Territories -$15 million -$324
Yukon $6 million  $136
Nunavut $14 million  $352

Note: A negative figure represents an economic benefit.