The Parliamentary Budget Office (PBO) warned a Canadian government grant for homeowners with oil furnaces could cost almost four times the original budget, according to Blacklock’s Reporter. “The Budget Office estimates there are up to 244,000 households nationwide that could be eligible for program funding,” said the PBO in a briefing note. “If all eligible households access the program, we estimate the program could have a maximum potential cost of $2.7 billion.”Canadian government grants for homeowners who convert to electric heat pumps were estimated to cost about $750 million. “Program uptake was projected by extrapolating historical participation trends in the program,” said the PBO. This program paid $10,000 to eligible homeowners to convert. Cabinet expanded grants to $15,000 and a $250 one-time bonus payment for homeowners with oil furnaces in provinces offering their own subsidies. The grants apply in Nova Scotia, Prince Edward Island and Newfoundland and Labrador. Outside of co-delivery provinces, the PBO said it will continue to offer eligible households $10,000. It estimated about 10,000 households to date have qualified for heat pump grants. It did not elaborate. Costs are in addition to the $1.08 billion suspension of the 17 cents per litre carbon tax on home heating oil commencing in November. This relief benefited homeowners in Atlantic Canada the most, where oil is the main source of home heating. “There will absolutely not be any other carve-outs or suspension of the price on pollution,” said Prime Minister Justin Trudeau. Atlantic Canada Liberal MPs said their constituents needed carbon tax relief. “Constituents are scared to death about a source of home heating that was always astronomically expensive but only getting more expensive,” said Labour Minister Seamus O’Regan. Trudeau said in October there will be changes to the carbon tax to help people in rural areas and those who use heating oil to heat their homes. READ MORE: Trudeau drops carbon tax on heating oil, increases rebate for Atlantic Canadians“Today’s announcement is good news for Atlantic Canadians, rural Canadians and people across the country,” said Trudeau.“We are putting more money back into your pocket and making it easier for you to find affordable, long-term solutions to heat your home.”
The Parliamentary Budget Office (PBO) warned a Canadian government grant for homeowners with oil furnaces could cost almost four times the original budget, according to Blacklock’s Reporter. “The Budget Office estimates there are up to 244,000 households nationwide that could be eligible for program funding,” said the PBO in a briefing note. “If all eligible households access the program, we estimate the program could have a maximum potential cost of $2.7 billion.”Canadian government grants for homeowners who convert to electric heat pumps were estimated to cost about $750 million. “Program uptake was projected by extrapolating historical participation trends in the program,” said the PBO. This program paid $10,000 to eligible homeowners to convert. Cabinet expanded grants to $15,000 and a $250 one-time bonus payment for homeowners with oil furnaces in provinces offering their own subsidies. The grants apply in Nova Scotia, Prince Edward Island and Newfoundland and Labrador. Outside of co-delivery provinces, the PBO said it will continue to offer eligible households $10,000. It estimated about 10,000 households to date have qualified for heat pump grants. It did not elaborate. Costs are in addition to the $1.08 billion suspension of the 17 cents per litre carbon tax on home heating oil commencing in November. This relief benefited homeowners in Atlantic Canada the most, where oil is the main source of home heating. “There will absolutely not be any other carve-outs or suspension of the price on pollution,” said Prime Minister Justin Trudeau. Atlantic Canada Liberal MPs said their constituents needed carbon tax relief. “Constituents are scared to death about a source of home heating that was always astronomically expensive but only getting more expensive,” said Labour Minister Seamus O’Regan. Trudeau said in October there will be changes to the carbon tax to help people in rural areas and those who use heating oil to heat their homes. READ MORE: Trudeau drops carbon tax on heating oil, increases rebate for Atlantic Canadians“Today’s announcement is good news for Atlantic Canadians, rural Canadians and people across the country,” said Trudeau.“We are putting more money back into your pocket and making it easier for you to find affordable, long-term solutions to heat your home.”
