The forecasted tax expenditure on all fossil fuels for transportation in Canada from 2024 to 2028 shows a gradual decline. From 2024 to 2028, expenditure decreases from 378.33 million USD to 371.35 million USD, reflecting a slight downward trend. Compared to 2023, when the actual figures are not provided, the year-on-year variation indicates a consistent reduction over this period. The compound annual growth rate (CAGR) over these five years is negative, demonstrating an average yearly decrease in tax expenditure.
Future trends to watch for include potential policy shifts that could further influence this decline, such as stricter environmental regulations or incentives for alternative energy sources. Monitoring technological advancements in clean transportation and changes in consumer behavior towards sustainable options will also be critical.
