Cap and trade, a carbon tax by another name, raises prices on goods and services rather than the taxes on them.
"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.
Ontario Premier Doug Ford today confirmed that, as the first order of business of Ontario's Government for the People, his cabinet revoked the regulation that punishes Ontario residents at the gas pump through a wasteful cap-and-trade carbon tax regime; this measure comes into effect July 3, 2018.
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.
Ford spokesperson Simon Jeffries said in a statement that "the previous government attempted to institute a cap on ticket re-sales with no way to enforce that cap, resulting in less consumer protection".
Allen, Young scuffle briefly during NBA Summer League matchup
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Ford said the province will nonetheless honour contracts and orders that have already been signed for projects funded by cap and trade, such as energy efficient insulation and window retrofits.
The leader of the progressive conservatives, who officially took the oath Friday, said that the abolition of quotas and restrictions for the market of hydrocarbons will be the first item in the list of his works.
The premier said the government will decide on a case-by-case basis whether some initiatives previously funded by the program will be paid for using tax base revenue.
"Cancelling Ontario's plan to price greenhouse gas pollution without announcing an alternative is reckless and irresponsible", said Mike Schreiner, member of provincial parliament for Guelph, a city in southwestern Ontario. "We believe that this money belongs back in the pockets of people".
CBC Toronto requested that cost from the Ontario Ministry of Environment and Climate Change last week, but the request was referred to Ford's office.