Hon. Marc Gold (Government Representative in the Senate): Thank you for the question. I don’t have that information on investments. However, I would like to note that the Canadian economy in general is doing very well. We have returned to pre-pandemic levels with a 6.7% growth rate in the last quarter of 2021.

As far as investments are concerned, I will make some inquiries and come back with a response as soon as possible.

Hon. Mary Coyle: Honourable senators, my question is for the Government Representative in the Senate. Senator Gold, a recent PBO study looked at the effect of federal carbon pricing on the economy. It found that most households in the four provinces that are subject to the federal price on carbon are worse off financially.

The Parliamentary Budget Officer, Mr. Yves Giroux, noted:

Under the Government’s HEHE plan, most households in Alberta, Saskatchewan, Manitoba and Ontario will see a net loss resulting from federal carbon pricing. That is, the costs they face—including the federal carbon levy, higher GST and lower incomes—will exceed the Climate Action Incentive rebate they receive.

The PBO study is based on the current situation, and we know that it doesn’t take into consideration any new green technologies that may result in cost savings, nor does it take into consideration the overall costs of climate inaction.

Senator Gold, what is the government doing to address the concerns of Canadians about carbon pricing and to, at the same time, help educate the public on the real cost of climate inaction?