BC takes the lead with carbon tax

From July this year, the Canadian province of British Columbia will charge a tax on fossil fuels, gradually increasing the rate each year as an incentive for reducing carbon emissions. The government's strategy for reducing the impact on the economy is to reduce other taxes:

Corporate and personal income tax rates will drop to help make the tax revenue neutral, and lower-income British Columbians will receive an annual climate action credit of $100 per adult and $30 per child.

British Columbia will be the first jurisdiction in North America to introduce a consumer-based carbon tax.

Comments

[urbanmike]

Many people here believe that BC actually stands for "Bring Cash". While I think this is a good initiative for the environment, British Columbia has a close neighbor (read: ALBERTA) that will do nothing to reduce it's carbon impact on the world until there is massive international pressure to do so, and even then, probably not until there is no oil left anyway.
We have enough tax here already, while the premier denies that it is a cash grab, it's hard not to be skeptical.