Wednesday, 14 June 2017

Average BC Families Will Pay $482 More Just for Carbon Tax Under New NDP Gov

According to the Fraser Institute, B.C. families will pay an average of just under $600 more per year under the new NDP minority government.

The bulk of that number is from a hike in carbon taxes ($5 more per ton).

The Fraser Institute figures the increased taxes on carbon will add a total of $1.4 billion to B.C.’s tax burden.

The NDP will tax higher incomes more. The already highly-taxed $150k and up range will pay more than $1000 additionally, while those making under $50k will pay $144 more.

The Institute also pointed out that there won't be any reduction in other taxes to offset this almost-$600 (ie it won't be a revenue neutral hike). The organization hasn't yet figured whatever the balance will be after any "carbon tax rebate checks" promised by the NDP. The party says that 80% of British Columbians will end up paying less under their government, but haven't given any details about what the rebates will look like.

According to the report, "British Columbians may soon face substantially higher taxes, given the changes proposed by the NDP and the Green Party. And their uncosted spending proposals mean future tax increases beyond those already announced are also likely."

Fraser Institute

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