The Federal Government will be ringing in a new budget on April 1st which will mean Canadians may see a few prices jump up.
The carbon tax is increasing to 14 cents per litre of gas on April 1st. Currently, the carbon tax cost Canadians 11 cents per litre.
Luckily, Albertans can expect the Climate Action Incentive payment on April 1 which has been given a bit of a boost. People will receive the following rebates:
- $48.25 per child under 18, up the from previous $33.75
- $193 for an individual, up from the previous $134.75
- $96.50 for a spouse or common-law partner, up from the previous $67.50
However, the Federal Government will also be introducing a second carbon tax on July 1, 2023. It is expected the second carbon tax will raise the price of petrol up to 13 cents a litre by 2030 and it does not offer a rebate.
Beyond the gas pumps, we will also see a price increase in alcohol. Alcohol taxes will see a 6.3 per cent increase on April 1st.
According to the Canadian Taxpayers Association, the changes in carbon tax will cost the average household between $402 and $847 more a year.
You can read more about the upcoming Federal Budget by checking out the story below.