7/27/2019 Sustainable Prosperity | BCs Carbon Tax Shift After
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BCs Carbon Tax Shift After Five YearsAn Environmental (and
Economic) Success StoryJuly 24, 2013
British Columbias pioneering carbon tax shift, passed in 2008,
has been remarkably effective in reducing fuel use, with noapparent
adverse impact on the provinces economy. These findings come from a
new study by Sustainable Prosperityresearchers to be published in
the upcoming issue of Canadian Public Policy, a highly respected
academic journal.
THE REPORTS KEY FINDINGS ARE THAT:
Since the carbon tax took effect (July 1, 2008), BCs fuel
consumption has fallen by 17.4% per capita (and fallen by
18.8% relative to the rest of Canada). These reductions have
occurred across all the fuel types covered by the tax (not just
vehicle fuel) BCs GDP kept pace with the rest of Canadas over that
time The tax shift has enabled BC to have Canadas lowest income tax
rates (as of 2012). The tax shift has benefited taxpayers; cuts to
income and other taxes have exceeded carbon tax revenues by
$500million from 2008-12.
Stewart Elgie, Professor of law and economics at University of
Ottawa, and the reports lead author, said:
BCs experience shows that it is possible to have both a
healthier environment and a strong economy -- by taxingpollution
and lowering income taxes.
Canadas premiers meet from July 24-26 to discuss a proposed
Canadian Energy Strategy which includes a moreintegrated approach
to climate change. Elgie commented: I hope that BCs success will
inspire Canadas premiers toshow leadership on a national approach
to pricing carbon pollution.
BACKGROUND
On 1 July 2008, BC brought in North Americas first carbon tax
shift. It imposed a price on the use of carbon- based fuels,with
all the revenues going to fund corresponding cuts in other taxes
The tax is a central component of BCs climate change strategy,
which aims to reduce GHG emissions by 33 percentbelow 2007 levels
by 2020 BCs carbon tax shift was designed to be revenue neutral;
all the revenues are to be used to reduce other taxes mainlyhrough
cuts to income taxes (personal and corporate), as well as targeted
tax relief for vulnerable households and
communities resulting in no overall increase in taxation
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7/27/2019 Sustainable Prosperity | BCs Carbon Tax Shift After
Five Years.pdf
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, .o rise by $5 per year thereafter until it reached $30 per
tonne (roughly 7 cents per litre of gas) in 2012
Contact Information
Stewart [email protected]
Jennifer [email protected]
604-347-5988
Related Materials:
Read Full Report Here - BC's Carbon Tax Shift after Five Years -
ResultsDownload Full Report Here - BC's Carbon Tax Shift after Five
Years - Results
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