Canada's NDP

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October 26th, 2023

NDP call for windfall tax could generate billions of dollars according to parliamentary report

NDP Environment Critic Laurel Collins and NDP Natural Resources Critic Charlie Angus made the following statement after a new report showed a windfall tax on big oil and gas would generate more than $4 billion:

“Canadians have been living with the devastating impacts of the climate crisis, and we only saw things escalate with this summer’s forest fire season. But while climate change is only speeding up – the government has stalled out.

For years, the Liberals have sat on their hands while Canada’s biggest polluters have made more money than ever before and done irreparable harm to the planet. The new Parliamentary Budget Officer report shows what a similar report last fall found. If the Liberals were to make big oil and gas companies who’ve hiked prices to make record profits pay their fair share, it would generate billions that could be invested in clean energy and helping people with the cost-of-living crisis.

But since the first PBO report came out, the Liberals have shown they’d rather be wined and dined by big oil instead of standing up to them. And the Conservatives would rather squabble over whether climate change is even real.

New Democrats have been calling for a windfall tax on oil and gas for years – and we’re going to keep fighting for one, especially with today’s information showing how beneficial it could be for Canadians and our future.”