BC introduces legislation that would exempt LNG companies from industry-specific tax hikes
Posted July 13, 2015 11:57 am.
This article is more than 5 years old.
VANCOUVER (NEWS 1130) – Calling it the largest private investment in BC’s history, Finance Minister Mike de Jong has introduced legislation that provides the blueprint for building the province’s first LNG plant near Prince Rupert.
Pacific NorthWest LNG, a joint venture backed by Malaysian state-owned energy giant Petronas, proposes to build the plant near Prince Rupert though it has not yet made a final investment decision on the project.
Gwen Barlee with the Wilderness Committee is angry the province would exempt Petronas from LNG-specific tax increases.
“This deal locks us in; it handcuffs future generations. If they wanted to have different climate policies that were focused on the LNG industry… [if they] wanted to increase LNG corporate tax rate… they would actually have to compensate Petronas.”
“It’s just very, very bad policy. It’s short-term policy and it’s not in the best interest of British Columbians,” she argues.
The NDP is planning to oppose the law, largely due to what it says is the absence of job guarantees for British Columbians.
