The British Columbia Provincial Budget was the most "green" in Canadian history. It did not go unnoticed by this economist nor Greg Mankiw .
There has been a lot of news about the BC budget but the aspect I like the best is the revenue neutral nature of the structures: The money raised through carbon taxes are going to be redistributed to individuals and companies by tax reductions. Great! Exactly what I (and many others) have been suggesting.
My Favorite Details
1.) As of July 1st, gasoline will go up 2.4 cents and raise to 7.2 cents by 2012; 2.) Low-income West coasters will receive an annual "climate-action credit" worth $100 per adult and $30 per child; 3.) They have added a new transit plan; 4.) They plan to renovate public buildings and pay home owners to make energy saving changes.
I am not endorsing everything in this budget - for example, the increase in gasoline tax is less than what I was hoping (more like a $1.00 would of made a much bigger statement). However, it is start! Congratulations to the Province of British Columbia!
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1 comment:
This would be great but the BC government has failed to collect taxes in the past in an attempt to subsidize local business and industry.
I am of course referring to the 120 million in stumpage fees that were uncollected which in part lead to the soft wood lumber issues with the USA.
CBC News 21/03/2001
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