Adrian Morrow got the news out on a grandiose plan being hatched by the mind, such as it is, of Glenn Murray, the latest wrecking ball unleashed on the province of Ontario by the voters of Toronto Centre.
Morrow's initial article is here; the follow-up here, and some words from me on the two here.
Globe columnist Jeffrey Simpson had an outstanding column, Why a carbon tax is better than cap-and-trade, but it is behind the paywall. In the column Simpson wrote:
[government] keeps and spends it to encourage or subsidize activities that will reduce emissions. Fundamentally, governments that adopt this approach think they can do a better job than the market in driving change.
They prefer a cap-and-trade system among companies, rather than a carbon tax, because the carbon price is hidden, as opposed to being evident at the pump. Of course, consumers will eventually pay as companies pass along the costs of the cap-and-trade system, but consumers won’t find it easy to trace the price increase, which suits politicians.
In the emerging outlines of what the “spend the money” provinces have in mind, the shape of future troubles can be seen. For example, governments of all stripes, when given a large source of new revenue, will inevitably allow partisan considerations to influence how it’s spent. Ministers will listen to entreaties from their caucus, each member of which will want money spent locally. They will also want to spread the spending around geographically.
If the cartoon fits...