Changes to Tax Provisions for Carbon Emissions Tax

Changes to tax provisions for Carbon Emissions Tax

Carbon tax cost BC taxpayers $24 billion

Introduced in July 2008, British Columbia's Carbon Tax cost BC taxpayers $24 billion before it was eliminated at the end of fiscal year 2024-2025. People in BC were encouraged to lower their carbon emissions, but the government provided subsidies worth billions of dollars to encourage increased fossil fuel consumption. That program was successful since the volume of natural gas produced in BC almost tripled after the carbon tax was imposed.