The Political Economy of British Columbia's Carbon Tax
In July 2008, the Canadian province of British Columbia (BC) launched North America's first revenue-neutral carbon tax reform. The tax, which applied to all combustion sources of all fossil fuels, was introduced at a rate of CAD 10 per tonne of CO2, with a schedule for annual increases of CAD 5...
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Format: | eBook |
Language: | English |
Published: |
Paris
OECD Publishing
2013
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Series: | OECD Environment Working Papers
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Subjects: | |
Online Access: | |
Collection: | OECD Books and Papers - Collection details see MPG.ReNa |
Summary: | In July 2008, the Canadian province of British Columbia (BC) launched North America's first revenue-neutral carbon tax reform. The tax, which applied to all combustion sources of all fossil fuels, was introduced at a rate of CAD 10 per tonne of CO2, with a schedule for annual increases of CAD 5 per tonne of CO2 until the tax reached CAD 30 per tonne of CO2 in 2012. Tax revenues were fully recycled via a combination of corporate and income tax cuts, phased in over time. This paper reviews the political economy of the BC tax in three distinct periods - its origins, its survival in the face of political backlash, and its longer-term prospects.. |
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Physical Description: | 22 p. 21 x 29.7cm |