Canada suspends consumer carbon tax, impacting British Columbia

Canadians will soon feel the effects of the end of the consumer carbon tax. A new report from Desjardins Economics highlights that gas prices will drop immediately when the tax is removed on April 1. However, changes in the costs of other goods may take longer to notice. The decision by Prime Minister Mark Carney and the Liberal cabinet to eliminate the carbon price is expected to reduce inflation over the next year. In British Columbia, the end of the carbon tax is projected to create a budget shortfall of about $1.5 billion. Experts indicate that while some may benefit from the lower gas prices, others could face higher taxes or cuts in government spending to make up for the lost revenue. In Ontario, Premier Doug Ford is preparing to announce his new cabinet today after his recent re-election. He will be sworn in with his executive council at a ceremony later. Ford hinted that he might not create a new position to address tariff issues with the United States, as he has been dealing with these concerns himself. Saskatchewan is also set to present its budget today, focusing on increased funding for health care, education, and crime reduction. Premier Scott Moe aims to reduce wait times for surgeries and improve education outcomes while promising to freeze property taxes for education. In a developing story, Tesla has been removed from the Vancouver International Auto Show due to safety concerns. The event's director stated that the decision was made for the safety of all involved. Tesla has not yet commented on the matter. Lastly, Shopify Inc. will move its U.S. stock listing to the Nasdaq from the New York Stock Exchange starting March 31. The Canadian company's TSX listing will remain unchanged, and its stock ticker will stay the same. The reason for the move has not been provided.