In the announcement, Ford said he would begin winding down all the green programs funded through the regulation this week. Ford says in a new release that eliminating it will be the first step in lowering gas prices by 10 cents a litre and curbing other household costs.
Scraping cap-and-trade a ticklish business Without a doubt, Ford ran his campaign on getting rid of the carbon tax, and it has been his first order of business.
Ford says that the province, however, will assume the responsibilities for contracts and orders that have already been signed for projects funded under this program.
Some rebates for energy-efficient renovations that were financed through cap-and-trade revenues-such as the GreenON rebate program-were already being phased out before Ford officially took office last week. Decisions to continue any specific initiatives now supported by the fund will need to be paid for out of the tax base and will be made on a case-by-case basis in alignment with the Ford government's Plan For the People and the upcoming value-for-money audit.
Cap and trade, a carbon tax by another name, raises prices on goods and services rather than the taxes on them.
In an email statement to CBC, Simon Jeffries, a spokesperson for Ford said, "The previous government attempted to institute a cap on ticket resales with no way to enforce that cap, resulting in less consumer protection".
Michael Berends, managing director at Toronto-based cap-and-trade advisers ClearBlue Markets, said the pace of the government's move leaves many unanswered questions.
According to the report, Premier Ford's office confirmed Tuesday that the government is "suspending a portion of the law" that would cap the resale price of tickets at 50% above face value, which was set to take effect July 1.
The government's website does not list contact information for the newly appointed minister of the environment or any other cabinet members.