Carney and Co are lowering gas/diesel taxes:
The move means that the cost of gas will drop by 10 cents on a litre of gasoline and four cents per litre of diesel starting on Monday and lasting until Labour Day. The fuel tax holiday, which Carney said would also see the four cent per litre excise tax removed on aviation fuel, is expected to cost an estimated $2.4 billion.
One of the aims is to improve the affordability hit we’re taking because of the US/Israel war with Iraq.
Does the tax holiday make sense to you? Could it be done better?
Even if they succeed in temporarily nudging the price below equilibrium all it will do is result in shortages.
Better things they could do include taking 10% of the money that’s spent on highways and putting it towards restoring passenger rail service in this country, creating a crown corporation that makes and sells utilitarian electric bicycles, having the civil service and everyone else work from home as much as possible, prohibiting the sale of new vehicles powered fully or partly by internal combustion engines, and taking six months off to re-evaluate their life choices.