"Every cent from the cap-and-trade slush fund is money that has been taken out of the pockets of Ontario families and businesses", Ford said in a written statement, adding he was fulfilling his election promise to scrap the Liberals' "cash grab" created to fund "big government programs" that "do nothing for the environment".
It remains unclear how much exiting the cap-and-trade program will cost Ontario, which is part of a larger program with Quebec and California, and what will happen with the almost $3 billion in credits that companies have already purchased. CTV News Canada is reporting that Ford also said some payments will be decided on a "case-to-case" basis as to whether they will be paid using the tax base revenue.
The PC Party won a majority government after campaigning on axing cap-and-trade, which forced large companies to buy allowances for their carbon emissions.More news: Century’s Longest Lunar Eclipse
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". The agreement signed by the province said the government would endeavour to give a year's notice before pulling out but it's unclear whether Ford plans to do so, he said.
"The cancellation of cap-and-trade is a bad idea for many reasons", said Environmental Defence's Keith Brooks in a statement.
"Doug Ford has taken the side of scalper-bots, helping them to rip off and gouge Ontario families without an end in sight", Horwath said.More news: Xbox One's fast-loading feature rolls out today
"I think that there's a lot of businesses, quite frankly, that still have a lot of questions, I'm sure, about how this is all going to proceed", he said. "We believe that this money belongs back in the pockets of people".
The government's website does not list contact information for the newly appointed minister of the environment or any other cabinet members.More news: Hawaii to become first state to ban sale of certain sunscreens
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