CLIMATE ACTION IN BRITISH COLUMBIA

1. CLIMATE ACTION IN BRITISH COLUMBIA CLIMATE ACTION IN BRITISH COLUMBIA www.livesmartbc.ca www.livesmartbc.ca

2. British Columbia’s Legislated Targets Reducing BC’s GHG emissions by at least 33% below 2007 levels by 2020 and at least 80% below by 2050

3. Acting in Every Sector Government is taking focused action

4. 5 Key Strategies 1. Regulation 2. Fiscal measures 5. Behaviour change 3. Market mechanisms 4. Support for technology

5. Reaching our Targets Through significant pieces of climate action legislation Cap and trade • Landfill Gas Green Communities • Energy Plan • Low Carbon Fuel • Tailpipe Standard Carbon Tax Act • Utilities Commission

6. Revenue-Neutral Carbon Tax • Returns every dollar collected back to taxpayers • Rewards green choices

7. New Pollution Tax on Carbon Emissions Tax cuts, funded by an innovative tax on pollution $/tonne of carbon dioxide equivalent emissions

8. New Pollution Tax on Carbon Emissions 2008/09 through 2010/11; $ millions 1,849 1,849 Small business corporate income tax reductions 255 Every dollar raised by carbon tax is returned to taxpayers by law Corporate income tax reductions 415 Low income climate action tax credit 395 784 Personal income tax reductions Carbon tax revenues Tax reductions

9. Carbon Emissions Tax 2008/09 through 2010/11; $ millions $1,849M Small business corporate income tax rate reduced from 4.5% to 3.5%, expected to fall to 2.5% by 2011 $255M Corporate income tax reduced to 11% from 12% expected to fall to 10% by 2011 $415M Lower income Climate Action Credit: $100 per adult and $30 per child per year, rising by 5% in 2009 $395M Personal income taxes reduced by an average of 5% for all British Columbians of the first $70,000 of earnings by 2009, with further reductions by 2010. $784M

10. CLIMATE ACTION IN BRITISH COLUMBIA CLIMATE ACTION IN BRITISH COLUMBIA www.livesmartbc.ca www.livesmartbc.ca