The legislation would repeal two LNG acts introduced by the previous Liberal government and instead reduce B.C.’s corporate income tax rate to 9 per cent from 12 per cent for corporations that meet several conditions, including climate commitments.
Finance Minister Carole James, who tabled the bill on Monday, said it is the final piece of the fiscal framework needed to move ahead with LNG Canada’s proposed $40-billion megaproject in northern B.C.“As a government, we recognize the importance of a strong, diverse economy that provides jobs and investments in every corner of British Columbia,” Ms. James said in Victoria. “And we also recognize the importance of balancing our economic, environmental, social and reconciliation priorities.
“No premier or government can dismiss this kind of critical opportunity for the people of British Columbia,” Mr. Horgan said at the time. “But neither will we turn our back on our commitment to climate targets, or our path to reconciliation with Indigenous peoples.” “After years of criticizing the BC Liberals for their generous giveaway of our natural gas resources, the BC NDP have taken the giveaway to a whole new level,” Mr. Weaver said in a statement. “The legislation brought forward by this government is a generational sellout.”Speaking with reporters in Victoria, Mr. Weaver, alongside Green Party MLAs Adam Olsen and Sonia Furstenau, called the bill the “subsidization of climate change.
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