OTTAWA, April 19, 2007 ¿The Honourable John Baird, Minister of the Environment today reiterated the Government's commitment to real action on the environment, but cautioned that with only eight months remaining, Canada cannot reach its 2008 to 2012 Kyoto targets, as required under Bill C-288, without intentionally manufacturing an economic recession. Minister Baird today tabled a detailed economic impact report called "The Cost of Bill C-288 to Canadian Families and Business" before the Senate Standing Committee on Energy, the Environment and Natural Resources. The Government of Canada study ¿ supported by leading, independent Canadian economists ¿ shows the cost of compliance with Bill C-288 at this time would result in devastating impacts for Canadian families, jobs and the economy.The study forecasts immediate and far-reaching impacts on Canadians and the economy including: 275,000 Canadians would lose their job by 2009The cost of electricity bills would jump 50% after 2010The cost of filling up a car would jump 60%The cost of heating a home by natural gas would double"Canada's New Government is taking action to reduce air pollution and greenhouse gas emissions by making responsible economic decisions that will achieve environmental progress," said Minister Baird. "Given that the opposition parties passed C-288 in the House, Canada's New Government has a responsibility to Parliament and to the people of Canada to report on the impact of this Bill's call for strict adherence to Kyoto in light of the previous government's inaction on the file." The study shows that Canada's GDP would decline by over 4.2%. This is comparable to the deepest recession since World War II, which Canadians faced in 1981-82. Many still remember the pain of that time. "The official opposition wants us to recklessly correct their past mistakes," said Minister Baird. "Our preference is to pursue a balanced approach that recognizes the urgent need to act on the environment, while also respecting our responsibility to keep Canadian families working."This study, prepared by the Government of Canada, was validated by Don Drummond, Senior Vice-President and Chief Economist at Toronto Dominion Bank Financial Group; Jean-Thomas Bernard, Professor, Department of Economics, Laval University; Mark Jaccard, Professor, School of Resource and Environmental Management, Simon Fraser University; David Keith, Canada Research Chair in Energy and the Environment, University of Calgary; and, Christopher Green, Professor, Department of Economics, McGill University. For more information on impacts of meeting Canada's Kyoto Protocol targets, see the report: "The Cost of Bill C-288 to Canadian Families and Business" at www.ec.gc.ca/doc/media/m_123/toc_eng.html (PDF version, 500 kb)Related Documents : Impacts of Implementing Bill C-288 by 2008Key Quotes from ValidatorsFor more information, please contact:Eric RicherPress SecretaryOffice of the Minister of the Environment(819) 997-1441 Environment Canada Media Relations (819) 934-8008 1-888-908-8008
