Liberal government announces cap and trade program to combat climate change

The carbon-pricing scheme is now projected to generate $1.9 billion in revenue next year, up from $1.3 billion estimated a few months ago, based on a price of about $18 per tonne. The cap is expected to decline 4.17 per cent each year to 2020, putting increasing pressure on industry to meet emissions targets, and, critics say, increasing costs to consumers.