How budget day unfolded in Ottawa — from budget takeaways to a floor-crossing surprise

Hi everyone, I’m Inayat Singh, a reporter with CBC’s climate unit in Toronto. I’m seeing a strong focus on the industrial carbon pricing system in this budget, which is the single most important part of Canada’s climate plan in terms of driving down emissions. The Carney government’s plan seems aimed at addressing uncertainty with the price, which experts and industry leaders have told me is the biggest issue in the system. I wrote earlier this year about the issue. The budget commits to come up with a pricing plan post-2030, giving companies the clarity they need to make investment decisions. Canada’s industrial carbon price is more than just a tax. It’s a complex system to push heavily emitting industries, like steel, cement, mining and manufacturing, to gradually reduce emissions by adopting new, more energy efficient technologies or switching to renewable energy. The system also raises money to help companies make that transition.