The forecast for tax expenditure on all fossil fuels in Canada from 2024 to 2028 remains consistently at 0.11% of GDP. This stability suggests a cautious approach to changing fiscal policies related to fossil fuel taxation in light of prior levels observed up to 2023. Given this context, year-on-year variations and compound annual growth rates (CAGR) are effectively zero, indicating no expected growth or reduction in tax expenditures relative to GDP during this period.

Future trends to watch for include:

The Canadian government's potential policy shifts towards renewable energy subsidies and their impact on fossil fuel tax expenditures.
Global economic factors or domestic economic shifts that might lead to an increase or decrease in GDP proportion allocated to fossil fuels.
Canada's regulatory changes in addressing climate change that could alter tax strategies around fossil fuels.