Canadian taxpayers could soon be spending over $100 billion on more Trudeau Liberal climate initiatives.
Bill C-32, currently in its third reading in the House of Commons, seeks to implement the Canada Growth Fund, as announced in the 2022 federal budget.
Under the guise of “climate change” and with the federal government’s commitment to building a net-zero economy by 2050, chapter two of the budget document indicates that “Canada will need between $125 billion and $140 billion of investment every year over that period.”
The annual investment in the climate transition currently sits between $15 billion and $25 billion.
According to a Nov. 3 article by the Financial Post, the fund will invest in industrial emitters, clean-tech companies and other companies across low-carbon supply chains. All this is intended to “stimulate institutional investment in innovation and green projects with risky economic foundations.”
“We are launching the Canada Growth Fund, which will help bring to Canada the billions of dollars in new private investment required to reduce our emissions, grow our economy, and create good jobs at the same time,” Finance Minister Chrystia Freeland said in a Nov. 28 speech.
During a Senate committee meeting on Dec. 7, Freeland said that the Canada Growth Fund, first introduced in April, will “attract billions of dollars [from foreign investors] in new private capital to reduce our emissions, stimulate our economy, and create good jobs.”
The finance minister did not elaborate on where or from whom those billions of dollars of funds would come, nor did she offer any specifics.
Legislation to make life “more affordable”
In a Nov. 4 news release, the Department of Finance of Canada said Bill C-32 will “make life more affordable and build an economy that works for everyone.”
The Canada “Growth” Fund states that Canadians must “invest” billions of dollars annually to fight climate change, which will swell to a mammoth $140 billion per year leading up to 2050.
With a population of 38 million, the carbon-tax burden would amount to $3,684 per Canadian per year. Or around $11,000-$14,700 or more per household.
And since the burden is supposed to be levied each year until 2050, it would cost the current and next generation of Canadians between $3.3- $3.7 trillion, or close to $100,000 per citizen.
It’s unclear how the financial burdens imposed on Canadians equate to making their lives “more affordable.”
