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Premier Horgan offers up tax breaks for LNG industry

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Premier John Horgan is offering to exempt liquefied natural gas projects from the provincial sales tax on construction, reduce the carbon tax and scrap an income tax surcharge levied by the former Liberal government, in an attempt to sweeten the pot and entice LNG Canada to proceed to a final investment decision this year.

The move, announced Thursday, would roll back many of the LNG taxes set by former premier Christy Clark, foregoing up to $6 billion in potential revenue to taxpayers over four years should LNG Canada proceed with its $40-billion project in Kitimat.

Instead of receiving $28-billion in government revenue over four years, B.C. would take $22 billion, according to government officials.

The proposals will likely be contentious, given Horgan spent years in opposition accusing Clark’s Liberal government of giving away too much revenue to large multi-national LNG proponents during her attempt to try and spur investment.

Read full article here.

Rob Shaw – Vancouver Sun – March 22, 2018.

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