It’s a Green Budget for ‘08!
Posted on February 19th, 2008 in canada, environment, links, politics | 3 Comments »
Just as the media has been speculating for months, Carole Taylor has introduced a revenue neutral carbon tax for BC. We are the second province in Canada, following Quebec, to introduce the tax as an method of curbing climate change.

Here’s the deets:
Carbon Tax
A carbon tax will be introduced on all fossil fuels starting July 1st. It will increase over time. The rate begins at $10 per tonne of carbon emissions. It will generate $1.85 billion over three years.

For example, the cost works out to be 2.41 cents per litre of gas, and 2.2 cents per litre of diesel.
Legislation will be developed requiring the government to show how the carbon tax funds are being used to fight climate change.
Revenue Neutrality
Every BC resident will receive a $100 dividend in June aimed at helping them to adopt greener lifestyles before the carbon tax is introduced.
Low income households will receive a new Climate Action Credit quarterly, amounting to $100 per adult and $30 per child.
Furthermore, the bottom two personal income tax rates, the general corporate income tax rate, and the small business tax rate will all be reduced to offset the carbon tax revenues.

General Spending
- Health care spending is up $2.9 billion over three years
- K-12 education spending is up $144 million over three years
- $104 million over four years will go towards reducing homelessness
- $78 million over four years will go towards keeping emergency shelters open 24 hours
Surplus?
The forecasted surplus for this year is $50 million, a far cry from last year’s $2 billion.


