- 76% of Canadians support an excess profits tax on oil and gas companies.
- 80% of Canadians say the excise fuel tax pause didn’t help their household.
- Local elected leaders are calling on the federal government to invest in clean infrastructure to increase affordability and community prosperity.
Ottawa, ON — In the hundreds of municipal elections, two provincial elections and referendum occurring across Canada this fall, there is one clear throughline: the struggle of Canadians to live affordably in the midst of economic challenges, tariffs, and the impacts of climate change.
New polling from Abacus Data on behalf of Climate Caucus underscores the message from hundreds of local elected leaders that Canadians want federal policies that meet the intersecting crises of Trump tariffs, extreme weather and pollution, and increased costs of fossil fuels.
76 percent of Canadians support an excess profits tax on oil and gas companies when it specifically addresses affordability — up from 66 percent from a similar poll in June. Support for the tax is high across the country, including in oil and gas producing regions of the country such as Alberta. Support also spans political affiliation, gender and age.
In contrast, 66 percent of Canadians say that the federal excise tax pause has not changed their household finances, and an additional 14 percent say it’s worsened their household finances.
“Canadians want solutions to burgeoning energy costs and reduced standards of living—and they are asking our federal government for bold, pragmatic leadership that supports them and their families. The federal government must acknowledge that rampant fossil fuel profiteering is contributing to this affordability crisis — and that there’s a tried-and-tested solution. Now is a crucial moment for our country. We can’t succeed by tinkering at the edges with measures such as the excise fuel tax pause. Instead, we need nation-building policies — and we can pay for them with an excess profits tax from companies generating billions more in windfall profits,” said David Miller, former Mayor of Toronto, and Co-Chair of Elbows Up for Climate.
An excess profits tax on profits 120% and over expected revenues would generate billions of dollars in revenue that can be utilised for essential, nation-building measures that make lives more affordable for Canadians, including:
- Building a national, East-North-West clean electricity grid, which will reduce energy prices and pollution;
- Building two million non-market, energy-efficient homes, which will increase efficiency and the longevity of homeowners’ investments.
- Retrofitting all low-income homes and multi-unit residential buildings, which will reduce energy poverty and dangerous emissions.
- Build a national high-speed rail and intercity bus system, which will reduce travel costs and pollution-related health defects.
- Implementing and funding a national resilience, response and recovery strategy, which will keep Canadians—and their homes—safe.
Canadian oil and gas companies stand to collect an estimated $90 billion in windfall profits from the price shock linked to the 2026 conflict in Iran. The largest four oil and gas companies in Canada are 60% owned by US shareholders. The UK and Poland have implemented excess profits taxes, while countries including Germany, Italy and others are encouraging an EU-wide excess profits tax.
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About Elbows Up for Climate
Elbows Up For Climate is a campaign from nearly 300 mayors and councillors advocating for nation-building projects that protect Canada from the dual crises of climate breakdown and economic instability, and make our communities safer, more affordable and prosperous. It is anchored by Climate Caucus, the largest network of climate-forward local elected leaders in Canada. We support local elected leaders enact climate policy that keeps their communities safe and prosperous, while advocating for necessary, ambitious climate policies at provincial and federal scales.
For further information, or to arrange an interview on the subject with Elbows Up for Climate Co-Chair, David Miller, contact:
Zoe Grams, Executive Director
Climate Caucus
Alex Cool-Fergus, Senior Manager, Public Affairs
Climate Caucus