North America’s First Second Carbon Tax Implemented – Guess Where.
California? Nope, BC! I wasn’t even aware BC was seriously considering implementing a carbon tax.
This from the globe:
The new tax will be tempered with matching income-tax cuts plus what is likely the province’s largest-ever dividend to taxpayers.
“We promised you green and today we delivered green,” said Finance Minister Carole Taylor, who presented the changes as a way of encouraging environmentally friendly choices through a carrot-and-stick system. “If you start to change your lifestyle even modestly … you will have extra dollars in your pocket,” she said.
The $37.7-billion budget boosts program spending, increases the debt and forecasts the slowest economic growth for the province since 2001. The economy and debt were not top of mind for Ms. Taylor, who stuck to a green theme in everything from the budget cover to her outfit.
Not everyone is happy…
The opposition New Democratic Party said the budget does too much for business at the expense of working families.
“It’s a great day for banks and big polluters. Banks got a huge tax break and polluters don’t have to pay the carbon tax,” NDP finance critic Bruce Ralston said. The budget states that industrial emissions from the production of oil, gas, cement and other sectors will not be subject to the tax initially.
“But it asks consumers to spend money they don’t have to fight climate change,” Mr. Ralston said.
