Employment Impacts of Reinstating annual increases to B.C. Carbon Tax

 
A proposal made at the September 2015 convention of the Union of B.C. Municipalities called for a reinstatement of an annual increase to the provincial carbon tax, at the rate of $5 per tonne, with new revenues invested in local climate programs such as transit and infrastructure. The carbon tax had been structured with this annual $5 per tonne increase when it was introduced in 2008, but has been frozen at 2012 levels. Although the resolution was defeated by a narrow vote, the new economic impact research which supported it is of interest. Commissioned by the Pembina Institute and conducted by Navius Research, the modeling showed that the $5 per tonne annual increase would stimulate economic growth by an average of 2.1% per year until 2030, creating approximately 850,000 new jobs, reducing B.C.’s carbon pollution by 2.1 million tonnes, and saving households an average $1,200 per year.

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