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

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

The Finance Department says the federal government will send more than $2.5 billion to about 600,000 Canadian businesses in December.

The payments will return a portion of the carbon price revenue from 2019-20 through 2023-24 to small businesses in jurisdictions where the federal fuel charge applies.

The amount received by a business will depend on the province it operates in and the number of workers it employs.

The federal government has also announced the final list of Chinese-made aluminum and steel products that will be subject to a 25 per cent tariff, which will come into effect on Oct. 22.

The 100 per cent tariff announced last month on Chinese-made electric vehicles came into effect today.