Canada’s Ontario government scraps cap-and

Premier Doug Ford

Premier Doug Ford

Premier Doug Ford made it official Tuesday with his announcement that his government is scrapping Ontario's cap and trade program.

However, it leaves businesses that bought C$2.8 billion ($2.1 billion) worth of allowances in limbo.

The announcement adds an effective date of July 3, 2018, after which Ontario will begin winding-down all programs funded out of cap-and-trade carbon tax revenues.

We reached out to the government for details, including when Ontarians can expect to see gas prices go down, but did not immediately get a response.

In an email statement to CBC, Simon Jeffries, a spokesperson for Ford said, "The previous government attempted to institute a cap on ticket resales with no way to enforce that cap, resulting in less consumer protection".

Mother Teresa's charity sold babies
The facility in Jharkhand state is operated by Missionaries of Charity, a religious order founded by Mother Teresa in 1950. The following incident reportedly took place at Missionaries of Charity's Jail Road branch in Jharkhand.

According to Ontario's Auditor General, the cap-and-trade system is costing Ontario residents and businesses $8 billion annually, with a "negligible impact" on the province's carbon emissions, which is the whole goal of the system.

Ford promises you will save roughly 10 cents per litre.

Ford's news release also said there will be an "orderly wind-down" of programs funded by cap-and-trade, including incentives for homeowners to make their homes more energy efficient and for motorists to switch to electric vehicles.

"All those entities that have purchased allowances, as they thought they were going to be required, are now wondering what's the value of allowances and whether they will need them or not", Berends said.

Left-wing politicians criticized Ford's move, citing environmental concerns. "Premier Ford is telling clean economy companies that Ontario is not open for business".

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