B.C. Finance Minister Carole Taylor introduces carbon tax for province

The B.C. Liberal government has announced a carbon tax for the province, to be phased in over a three-year period starting July 1 this year.

A B.C. Ministry of Finance media release states:

Subject to approval by the legislature, British Columbia will introduce a fully revenue-neutral carbon tax with built in protection for lower income British Columbians. The tax will begin at a low rate and increase gradually to give individuals and businesses time to adjust. It will apply to virtually all fossil fuels, including gasoline, diesel, natural gas, coal, propane, and home heating fuel -making it among the broadest and most comprehensive in the world.

The release, which quoted B.C. Minister of Finance Carole Taylor, claimed that the tax is forecast to generate approximately $1,849 million over three years. That revenue will be returned to businesses and individuals through a “Climate Action Credit program”, according to the release.

Straight.com previously reported that Canada’s oil industry has stated it would support a carbon tax.

For more on the B.C. Liberal government’s carbon-tax program, look for this week’s Georgia Straight newspaper, which is distributed across the Lower Mainland every Thursday .

Related links:

David Suzuki Foundation backgrounder on carbon tax