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Dear John,
A new study published by the Fraser Institute today finds that government subsidies for electric vehicles (EVs) are an excessively expensive way to reduce greenhouse gas emissions.
The federal government provides a $5,000 subsidy for every eligible EV purchase in Canada. Some provinces offer additional subsidies ranging from $2,500 to $7,000.
Of course, taxpayers ultimately pay the price for these subsidies.
The federal subsidy alone costs $355 per tonne of averted GHG emissions.
That dwarfs the cost of the federal carbon tax which currently sits at $65 per tonne, with plans to increase to $170 per tonne in 2030.
It’s also unclear to what extent EV’s help reduce GHG emissions.
Read the full study here, and be sure to help us spread these findings far and wide!
Thank you for your support!
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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