March 28, 2024

BC’s Finance Minister warns against axing the Carbon tax

If BC’s Finance minister has his way the Canadian Taxpayers Federation won’t get its wish to have the Carbon tax scrapped.

 Kevin Falcon says “I think scrapping it would be a big mistake first of all because it is effective secondly because it has contributed to significant income tax reductions for British Columbians which has given us the lowest personal income tax rates in the entire country and frankly some of the lowest tax rates in the country.”

 Falcon says if the Carbon tax is eliminated there will be a cost.

  “Remember it is revenue neutral meaning that every dollar generated goes into some of the significant tax reductions we have seen in personal income taxes and small business taxes and so if we eliminate the carbon tax of course you would have to see a double digit increase in both small business taxes and personal income taxes.”

 The tax is under review and Falcon says they are looking at tweaks

 “The agricultural sector in particular has been impacted and we want to look at ways to mitigate that we have already done that with respect to the greenhouse growers but we also hearing lots of folks that say listen what you are doing is exactly the right thing New York Times, the Economist magazine, and others have applauded British Columbia for coming forward with a common sense approach to dealing with legitimate issues around the Environment.”

 People have until the end of August to tell the BC Government what they think of the Carbon tax.

CKNW Vancouver News

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