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Bank of Canada admits eliminating carbon tax could reduce inflation by 16%
From LifeSiteNews
Bank of Canada Governor Tiff Macklem testified that cutting the tax would create a one-time reduction of inflation by 0.6%, which is 16% of Canada’s total inflation rate
Bank of Canada Governor Tiff Macklem admitted that Trudeau’s carbon tax is responsible for 16% of Canada’s current inflation rate.
On October 30, Macklem told the House of Commons finance committee that eliminating the carbon tax would reduce inflation by 0.6%, which is 16% of Canada’s total inflation rate.
“That would create a one-time drop in inflation of 0.6 percentage points,” Macklem told Conservative MP Philip Lawrence, who had questioned the tax’s effect on the economy.
Currently, Canada’s inflation rate is at 3.8% which means that a decrease of 0.6% by eliminating the tax would result in a 16% decrease in the overall inflation.
Lawrence further questioned if eliminating the tax would ease the economic situation, considering it would mean a “sizable drop in inflation.” However, Macklem explained that cutting the tax would only affect inflation for one year.
“It would be helpful if monetary and fiscal policy was rowing in the same direction,” he added, explaining that government spending has made keeping interest rates steady a difficult task.
“Any standard economic textbook will tell you if you cut government spending that will tend to slow growth, raise the unemployment rate, and reduce inflation,” Macklem explained.
In September, Macklem admitted that food costs are of particular concern as “[m]eat’s up six percent, bread’s up 13 percent, coffee’s up eight percent, baby food’s up nine percent. If you look at food overall it is up nine percent.”
Macklem revealed at the time that food prices are rising significantly faster than the headline inflation rate – the overall inflation rate in the country – as staple food items are increasing at a rate of 10 percent to 18 percent year-over-year.
To combat this inflation, the Bank of Canada has raised interest rates to 5 percent, the highest benchmark rate in 22 years. Another increase is expected in October.
In addition to deficit spending, others have pointed to the Trudeau government’s ongoing carbon taxes and energy regulations as one of the reasons for the sharp increases in the cost of living.
According to a March report, Trudeau’s carbon tax is costing Canadians hundreds of dollars annually as government rebates remain insufficient to compensate for the increased fuel prices.
Last week, Prime Minster Justin Trudeau suspended his carbon tax on home heating oil, amid rising costs of living and his decreasing popularity across multiple polls.
Under the new regulations, home heating oil is exempted from the carbon tax, while rural residents will receive a 10 percent increase in the carbon tax rebate payments. The increase is set to climb to 20 percent beginning next year.
In March, the Parliamentary Budget Officer calculated the total carbon tax costs for fuel in 2023 minus government rebates. The steepest increase is for Albertans, who will pay an average of $710 extra per household. Following Alberta is Ontario with a $478 increase.
Prince Edward Island households will pay an extra $465, Nova Scotia $431, Saskatchewan $410, Manitoba $386, and Newfoundland and Labrador $347.
The increased costs are only expected to rise as a recent report revealed that a carbon tax of more than $350 per tonne is needed to reach Trudeau’s net-zero goals by 2050.
Currently, Canadians living in provinces under the federal carbon pricing scheme pay $65 per tonne, but the Trudeau government has a goal of $170 per tonne by 2030.
This article supplied by Troy Media.
Canadians must consider how closer EU ties could erode national control and economic sovereignty
As Prime Minister Mark Carney attempts to deepen Canada’s relationship with the European Union and other supranational institutions, Canadians should be asking a hard question: how much of our national independence are we prepared to give away? If you want a glimpse of what happens when a country loses control over its currency, trade and democratic accountability, you need only look to Bulgaria.
On June 8, 2025, thousands of Bulgarians took to the streets in front of the country’s National Bank. Their message was clear: they want to keep the lev and stop the forced adoption of the euro, scheduled for Jan. 1, 2026.
Bulgaria, a southeastern European country and EU member since 2007, is preparing to join the eurozone—a bloc of 20 countries that share the euro as a common currency. The move would bind Bulgaria to the economic decisions of the European Central Bank, replacing its national currency with one managed from Brussels and Frankfurt.
The protest movement is a vivid example of the tensions that arise when national identity collides with centralized policy-making. It was organized by Vazrazdane, a nationalist, eurosceptic political party that has gained support by opposing what it sees as the erosion of Bulgarian sovereignty through European integration. Similar demonstrations took place in cities across the country.
At the heart of the unrest is a call for democratic accountability. Vazrazdane leader Konstantin Kostadinov appealed directly to EU leaders, arguing that Bulgarians should not be forced into the eurozone without a public vote. He noted that in Italy, referendums on the euro were allowed with support from less than one per cent of citizens, while in Bulgaria, more than 10 per cent calling for a referendum have been ignored.
Protesters warned that abandoning the lev without a public vote would amount to a betrayal of democracy. “If there is no lev, there is no Bulgaria,” some chanted. For them, the lev is not just a currency: it is a symbol of national independence.
Their fears are not unfounded. Across the eurozone, several countries have experienced higher prices and reduced purchasing power after adopting the euro. The loss of domestic control over monetary policy has led to economic decisions being dictated from afar. Inflation, declining living standards and external dependency are real concerns.
Canada is not Bulgaria. But it is not immune to the same dynamics. Through trade agreements, regulatory convergence and global commitments, Canada has already surrendered meaningful control over its economy and borders. Canadians rarely debate these trade-offs publicly, and almost never vote on them directly.
Carney, a former central banker with deep ties to global finance, has made clear his intention to align more closely with the European Union on economic and security matters. While partnership is not inherently wrong, it must come with strong democratic oversight. Canadians should not allow fundamental shifts in sovereignty to be handed off quietly to international bodies or technocratic elites.
What’s happening in Bulgaria is not just about the euro—it’s about a people demanding the right to chart their own course. Canadians should take note. Sovereignty is not lost in one dramatic act. It erodes incrementally: through treaties we don’t read, agreements we don’t question, and decisions made without our consent.
If democracy and national control still matter to Canadians, they would do well to pay attention.
Isidoros Karderinis was born in Athens, Greece. He is a journalist, foreign press correspondent, economist, novelist and poet. He is accredited by the Greek Ministry of Foreign Affairs as a foreign press correspondent and has built a distinguished career in journalism and literature.
Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country.
From LifeSiteNews
Pornhub has taken down 91% of its images and videos and a huge portion of the last 9% will be gone by June 30 because it never verified the age or consent of those in the videos.
Despite an aggressive PR operation to persuade lawmakers that they have reformed, Pornhub is having a very bad year.
On May 29, it was reported that the European Commission is investigating the pornography giant and three other sites for failing to verify the ages of users.
The investigation, which comes after a letter sent to the companies last June asking what measures they have taken to protect minors, is being carried out under the Digital Services Act. The DSA came into effect in November 2022 and directs platforms to ensure “appropriate and proportionate measures to ensure a high level of privacy, safety, and security of minors, on their service” and implement “targeted measures to protect the rights of the child, including age verification and parental control tools, tools aimed at helping minors signal abuse or obtain support, as appropriate.”
According to France24: “The commission, the EU’s tech regulator, accused the platforms of not having ‘appropriate; age verification tools to prevent children from being exposed to pornography. An AFP correspondent only had to click a button on Tuesday stating they were older than 18 without any further checks to gain access to each of the four platforms.”
Indeed, Pornhub’s alleged safety mechanisms are a sick joke, and Pornhub executives have often revealed the real reason behind their opposition to safeguards: It limits their traffic.
Meanwhile, Pornhub — and other sites owned by parent company Aylo — are blocking their content in France in response to a new age verification law that came into effect on June 7. Solomon Friedman, Aylo’s point man in the Pornhub propaganda war, stated that the French law was “potentially privacy infringing” and “dangerous,” earning a scathing rebuke from France’s deputy minister for digital technology Clara Chappaz.
“We’re not stigmatizing adults who want to consume this content, but we mustn’t do so at the expense of protecting our children,” she said, adding later, “Lying when one does not want to comply with the law and holding others hostage is unacceptable. If Aylo would rather leave France than apply our law, they are free to do so.” According to the French media regulator Arcom, 2.3 million French minors visit pornographic sites every month.
Incidentally, anti-Pornhub activist Laila Mickelwait reported another major breakthrough on June 7. “P*rnhub is deleting much of what’s left of the of the site by June 30,” she wrote on X. “Together we have collectively forced this sex trafficking and rape crime scene to take down 91% of the entire site, totaling 50+ million videos and images. Now a significant portion of the remaining 9% will be GONE this month in what will be the second biggest takedown of P*rnhub content since December 2020.”
“The reason for the mass deletion is that they never verified the age or consent of the individuals depicted in the images and videos, and therefore the site is still awash with real sexual crime,” she added. “Since the fight began in 2020, 91% of P*rnhub has been taken down — over 50 million images and videos. Now a huge portion of the last 9% will be gone by June 30 because P*rnhub never verified the age or consent of those in the videos and the site is a crime scene.”
Mickelwait has long called for the shutdown of Pornhub and the prosecution of those involved in its operation. This second mass deletion of content, as welcome as it is, reeks of a desperate attempt to eliminate the evidence of Pornhub’s crimes.
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