CARBON TAX WILL SHRINK ECONOMY

The introduction of a federal carbon tax could “shrink” Canada’s GDP by as much as $3 billion in 2018 and lead to a slight depreciation of the Canadian dollar, a new report says.
In a study released Tuesday, the Conference Board of Canada said the tax could cause a broad slowdown in economic activity as “higher energy prices ripple throughout the economy.” Prices for natural gas, gasoline, electricity and other goods will rise, collectively raising costs of goods and services.