News Column

BR-BCBudget-LNG

February 18, 2014



VICTORIA - The B-C govenrment is using today's budget to reveal long-awaited details about how it plans to tax the liquified natural gas.

Liberal Premier Christy Clark staked last year's election campaign on a bold vision for a booming L-N-G industry that could one day create tens of thousands of jobs and wipe out the province's debt.

Clark's finance minister, Mike de Jong, has offered the first glimpse at how the province plans to cash in on that.

De Jong says the government will use a complex, two-tier tax structure, starting at 1.5 per cent and eventually increasing to as much as seven per cent.

De Jong says the proposed system is competitive and predictable, while ensuring B-C gets its fair share of the L-N-G industry.

Still, he says those rates could still change before legislation is introduced in the fall.

The three-year fiscal plan doesn't actually include any revenues from L-N-G.

However, it does set aside $30 million dollars to help develop the industry, as well nine million dollars for environmental assessments.

(The Canadian Press)

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(The Canadian Press)


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Source: Canadian Press Broadcast Wire (Canada)


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