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British Colombia introduces carbon tax

Revenue neutral tax on emissions to incentivize purchase of efficient automobiles and appliances

Aiming to curb greenhouse gas emissions and further solidify their role as a leader in the environmental movement, British Colombia introduced a revenue neutral carbon tax in February 2008.  The tax, assessed all fossil fuels including gasoline, diesel, natural gas, coal, propane and home heating fuel, will incentivize purchases of efficient cars and appliances and efficient behaviors.  The tax will be phased in gradually over five years starting July 1.  The tax was made revenue neutral with accompanying tax cuts in other areas.

Read the story: Canadian Press

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