Me and my Kamloops
Mayors join finance minister to discuss, share feedback on landmark tax

Cascadia tour will promote CleanBC and economic opportunities

Carole James, Minister of Finance, will travel to Washington state and California to speak with industry leaders and policy-makers about the opportunity to invest in British Columbia’s low-carbon economy.

“We share much more than just a coastline with our neighbors to the south,” said James. “All along the Cascadia corridor, people are committed to protecting our environment while growing our economy, and B.C. is proud to be a leader in the urgent fight against climate change. I’m looking forward to discussing our CleanBC climate plan and joint-investment opportunities that will drive sustainable economic growth for the people of B.C.”

The three-day working tour from June 5-7 will include meetings with government officials and clean tech industry leaders, and will focus on climate action strategies, business investment and profiling B.C.’s diverse and sustainable economy.

As part of the tour, James will visit the magniX testing facility. Earlier this year, Vancouver-based Harbour Air Seaplanes and magniX, an electric aviation company based in Redmond, Wash., announced a new partnership to build the world’s first all-electric airline.

“This partnership is one example of the clean tech innovation happening in the Cascadia corridor,” said James. “We have world-class companies on both sides of the border, and when we work together, we can grow our economies, develop greener solutions and build a better future for people living in the Pacific Northwest.”

The tour coincides with ongoing efforts to make life more affordable and better for people, while protecting B.C.’s clean air, land and water.

Starting in July 2019, roughly half of all B.C. families will have more money in their pockets – up to $400 for a family of four this year – with the second of four increases to the climate action tax credit since Budget Update 2017. The credit, which was expanded in Budget 2019, will be almost 70% higher on July 1, 2021 than on July 1, 2017.

Quick Facts:

  • B.C. has the fastest growing economy and lowest unemployment in Canada, and among the lowest debt-to-GDP ratio of all provinces.
  • B.C. is the only province in Canada rated triple-A by three of the major international credit rating agencies.
  • As of April 2019, B.C. has the lowest unemployment rate in Canada for 21 months in a row.
  • CleanBC was launched last year and is designed to help B.C. lower greenhouse gas emissions and seize new, clean economy opportunities.
  • Budget 2019 invests $223 million to increase the climate action tax credit over three years:
    • Effective July 2019, the maximum annual climate action tax credit will be increased to $154.50 per adult and to $45.50 per child.
    • Effective July 2020, the maximum annual climate action tax credit will be increased to $174 per adult and to $51 per child.
    • Effective July 2021, the maximum annual climate action tax credit will be increased to $193.50 per adult and to $56.50 per child.
    • Single-parent families will continue to receive the adult amount for the first child in the family.
    • The credit is reduced by 2% of family net income over the income threshold.

Learn More:

Read the Province’s CleanBC plan here: https://cleanbc.gov.bc.ca/

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