British Columbia government raises carbon tax, corporate tax rate

By September 21, 2017World News

VANCOUVER, Sept 11 (Reuters) – British Columbia’s New Democratic government said on Monday it would increase the Western Canadian province’s carbon tax rate by C$5 a tonne from April 1, 2018, and also raised the provincial corporate tax rate and taxes on higher earners.

Unveiling an update to a February provincial budget drafted by the then right-of-center Liberal government, NDP Finance Minister Carole James forecast a budget surplus of C$246 million ($203.27 million) for the 2017-2018 fiscal year, and surpluses until at least 2020.

Provincial real GDP growth was estimated at 2.9 percent for this year, up from the 2.1 percent forecast in February.

 

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