Climate policy expert lauds federally-imposed carbon price

By James Peters
October 3, 2016 - 4:57pm Updated: October 3, 2016 - 5:33pm

KAMLOOPS — A local climate economist says the Trudeau government's move to establish a national carbon price is a step in the right direction for the environment, and a positive for BC's economy.

Prime Minister Trudeau announced this morning province's will be forced to implement a carbon tax or a cap-and-trade system by 2018.

Joel Wood is an Assistant Professor in the Thompson Rivers University School of Business and Economics, specializing in climate policy.

He says the rest of the country will finally start to catch up to BC.

"It is a positive step, especially for provinces like British Columbia, and Alberta. With B.C. sitting at a $30 per tonne carbon tax, but many other provinces not having it. It's definitively a good thing, from a competitiveness perspective for the B.C. economy," explained Wood.

Wood says even province's that oppose the tax, such as Saskatchewan, will be able to use the revenue to decrease personal income tax or business taxes.

"If they are worried about the impact on families and households, they could cut personal income tax rates. They could give transfers to the household. Or if they are worried about their investment climate they could cut corporate income tax rates, similar to what we have done in B.C. with our carbon tax, in both regard." 

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