CO2-Taxes in Canada – It Works

According to Stephen Harper, Prime Minister Taxes on CO2 and higher energy prices screw everybody. Well, apparently not British Columbians. Three years ago the province introduced a gradually rising tax on CO2 emissions and thus energy while redistributing the additional money back to the people by lowering income taxes. Heavy polluters had to pay more and energy efficient people and firms enjoyed a net benefit. Now first conclusions can be derived and guess what? British Columbians not only have lower CO2 emission than the rest of Canada, but they have also lower taxes and a strong economy. No wonder that a majority is in favor of the scheme.

Brightnews! According to oil industry and other dirty business lobbyists a CO2 tax directly leads to an economic downturn. Well, they couldn’t be more off. Think it through. Wouldn’t you agree to buy a somewhat smaller car that saves on gas and get a substantial tax cut in return? I am sure that would be an intriguing offer also for the remaining Canadians and of course for many Americans and Europeans. Smart CO2 taxes do not hamper neither the economy nor the consumer but make both more energy efficient, more competitive and less dependent on foreign energy sources. Let the bright example from British Columbia lead the way.

Source: The Economist

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