Monday, July 25, 2011

Carbon Tax Working Nicely

Canada's province of British Columbia introduced a carbon tax in 2008. At the time, section of the community were worried (similar to some Australians) but the fears proved groundless.

According to The Economist, the BC economy has outperformed the rest of Canada with higher growth, lower unemployment and lower income taxes. Not surprisingly, the carbon tax now has the majority support of BC residents.

At $30/tonne next year, it's a larger tax than the proposed Australian equivalent, and it includes petrol, but it's popular because it reduces emissions, reduces income tax and makes the economy stronger.

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