Earlier this month the Canadian Taxpayers Federation (CTF) submitted its recommendation to kill the B.C. carbon tax with the provincial government panel reviewing the tax.
The CTF has recommended “that the Government of British Columbia immediately repeal the B.C. carbon tax, including all revenue neutrality tools, if necessary to balance the provincial budget.”
“It’s time for the carbon tax to go,” said Jordan Bateman, the CTF’s B.C. director. “It hasn’t accomplished its environmental goals and is hurting B.C.’s competitiveness both in North America and internationally. Taxpayers—both individual and business—need relief.”
Earlier this summer, the CTF asked its B.C. supporters to send in their thoughts on the carbon tax. Hundreds responded with notes sharing their feelings and personal stories of the hardships the carbon tax has imposed on them. Those submissions became the foundation for the CTF’s 24-page report to the panel.
While the carbon tax is technically revenue neutral for government, many of the offsetting tax cuts do not help the average taxpayer. Among other tax offsets, the B.C. Budget lists the small business venture capital tax credit, a corporate income tax cut, an industrial property tax credit, interactive digital media tax credit, scientific research tax break and a film industry tax break as offsetting the carbon tax.
The personal income tax cut only offsets $228 million of the carbon tax’s $1.2 billion overall take. The CTF would like that particular tax cut to remain in place, even if the carbon tax is scrapped.
“It’s ridiculous for an average taxpayer to be told it’s revenue neutral when they are forced to pay the ever-increasing carbon tax but have no ability to access the corresponding tax breaks like venture capital credits, industrial property credits, research and experimental development grants or digital media credits,” said Bateman. “Many taxpayers feel left behind by having to pay both a carbon tax and increased prices for any good or service moved by vehicle in B.C.”
– Jordan Bateman, Canadian Taxpayers Federation