Canadian Green Party Focuses On Green Tax Shift

by Mike Godfrey, for LawAndTax-News.com, Washington

19 September 2008

The Green Party of Canada released on Wednesday its complete election platform, which unveils plans for a package entitled 'The Green Tax Shift.'

The package would use money from taxes on greenhouse gas emissions and toxic pollutants to support tax cuts for individuals and businesses, poverty reduction, and measures to help companies lead Canada into the post-carbon economy.

“Our approach puts Canadians and future generations first. We are proving that breaking from the past and voting for tomorrow is not only possible, but is also the best course for our economy, for local jobs and for a secure world," commented Green Party leader Elizabeth May.

Among the platform highlights, the Green Party would:

• Bring in a CAD50 per tonne carbon tax and taxes for toxic chemicals, using that revenue to cut payroll and income taxes – including the introduction of income splitting – and reduce employers’ contributions to Employment Insurance and the Canada Pension Plan.
• Cut corporate tax by CAD50 for each tonne of carbon emission reductions, to create a CAD100 per tonne saving when combined with avoided carbon tax.
• Return the GST to 6%, to invest in infrastructure, as well as expanding the exemptions on food items, and extend them to children’s clothing and books, and providing rebates for rural Canadians.

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