Mr. Speaker, Canadians know polluting is not free. Severe weather due to climate change is already costing Canadians billions of dollars a year in insurance costs. Across the country, Canadians have experienced first-hand devastating wildfires, extreme flooding, severe droughts, and stronger storms.

Canadians overwhelmingly support action on climate change and a growing economy. We know pricing pollution works. It is a low-cost solution that fights climate change, encourages innovation, keeps our economy strong, and creates good middle-class jobs.

According to the World Bank, nearly half the world's economy is pricing pollution today, including China, California, and the EU. Canada's five major banks, along with many companies in the consumer goods, energy, and resources development sectors also support putting a price on pollution.

A price on carbon pollution gives households and businesses a powerful incentive to save money by making choices like turning down the thermostat and taking transit, or investing in clean solutions like more efficient appliances and vehicles.

We have released an analysis that shows that putting a price on pollution across Canada will significantly reduce carbon pollution while maintaining a strong and growing economy. Our analysis found that a price on carbon across Canada could reduce greenhouse gas emissions by up to 90 million tonnes in 2022. This is as much as taking 23 million to 26 million cars off the road or shutting down 20 to 23 coal-fired power plants for a year. It also shows that carbon pricing reduces pollution without hurting Canada's GDP.

National GDP is estimated to grow by about 2% a year between now and 2022, with or without carbon pricing. This does not include the huge opportunity that clean innovation spurred by carbon pricing will have in helping Canadian companies create jobs and compete successfully in the global shift to cleaner growth, an opportunity the World Bank estimates will be worth $23 trillion globally between now and 2030.

Real world experience backs that up. Last year, the four provinces with a price on pollution, B.C., Alberta, Quebec, and Ontario, led the country in economic growth. Putting a price on pollution will make Canada's economy stronger over time, help create new economic opportunities, and good middle-class jobs.

Kim Rudd

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Adjournment Proceedings

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