I disagree with Bill 4: Cap…

I disagree with Bill 4: Cap and Trade Cancellation Act. Cap and Trade is one of the few available mechanisms for the government to effectively reduce carbon emissions in Ontario that utilizes market mechanisms rather than complicated regulations.

I also worry that carbon heavy industries, who need to plan for future carbon regulations, will be dissuaded from investing in Ontario. I am very concerned that this is a sign that Ontario governments are willing to flip-flop on regulatory approach leading to uncertainty. I disagree with such self-imposed uncertainty at a time when so many factors outside the governments control have the potential to harm our economy. Consequently, I would be more supportive of a bill that repeals the Cap and Trade Act but simultaneously enacts other mechanisms consistent with federal regulations for reducing carbon emissions such as a carbon tax.

Finally, I am frustrated to see that government time and money will be used to compensate businesses that bought credits under the Cap and Trade program. Compensation is necessary to fairly remove the Cap and Trade system. With so many issues requiring government time and resources, I do not support spending administrative time and money removing a program the likes of which we will need eventually to reduce our carbon emissions.

I urge the Ontario government to reconsider the Cap and Trade Cancellation Act and focus on improving the efficiency and efficacy of the current Cap and Trade system.