The B.C. government faces a $1.8-billion hole in its budget with the end of the consumer carbon tax, but experts say new opportunities may help balance the challenges.
B.C. is eliminating its consumer carbon tax following the federal government's lead, creating a potential $2.8 billion revenue shortfall. The province will introduce legislation by March 31 to remove the tax, but details on replacing the revenue and the fate of the Climate Action Tax Credit are pending. While consumers may see lower energy prices, the province is considering options like maintaining the industrial carbon price and encouraging emissions-reducing technologies.
