Small businesses to receive five years' worth of carbon rebates in December

Finance Minister Chrystia Freeland says small and medium-sized business owners will receive their long-awaited carbon pricing refunds before the end of this year.

According to the Finance Department, the federal government will distribute more than $2.5 billion to about 600,000 Canadian businesses in December. The refunds will return a portion of carbon price revenues collected between 2019–20 and 2023–24 in provinces where the federal fuel charge applies.

The amount each business receives will depend on its province of operation and number of employees. The measure is part of Ottawa’s commitment to recycle carbon revenue back into the economy while supporting small enterprises affected by higher energy costs.

In a separate announcement, the federal government released the final list of Chinese-made aluminum and steel products that will face a 25 per cent tariff starting October 22. Meanwhile, the previously announced 100 per cent tariff on Chinese-made electric vehicles officially took effect today.