Green Shift a ‘Win-Win’ for All Canadians

OTTAWA-The Liberal Party of Canada’s plan for the environment and the economy is a Green Shift that will cut income taxes, put a price on pollution, fight poverty and position Canada to be a leader in the 21st century global economy, Member of Parliament Sukh Dhaliwal said today.

“Canadians want a strong economy and a clean environment,” said Dhaliwal. “That is why we have introduced the Green Shift: a bold initiative at the heart of our plan to address climate change while building a more competitive economy.”

“This is bold policy making that is both good for the planet and good for your wallet. It’s a win-win for everyone.”

The Green Shift will cut taxation on things we all want more of, such as income, investment and innovation, and shift those taxes onto what we all want less of - pollution, greenhouse gas emissions and waste.

Under the Green Shift plan, a Liberal government would put a price on fossil fuels like coal and natural gas, beginning at $10 per tonne of carbon dioxide and rising to $40 per tonne over four years.  No new taxes will be levied on gasoline at the pump, since there is already an excise tax in place.

Using the neutral revenue generated through carbon pricing, a new Liberal government will put forth broad-based and progressive income tax cuts, and implement measures to protect low-income Canadians and seniors from rising energy costs.  These include:

• Cuts to the first three marginal rates of income tax;
• A new, universal child tax benefit worth $350 per child, per year, on top of all existing child benefits;
• A $1850 increase to the Employment tax credit, which will be made refundable and targeted at Canadians who earn less than $50,000 per year;
• An increase to the value of the Working Income Tax Benefit; and
• Tax credits for business.

The plan will also offer targeted benefits to help lift low-income Canadians and families out of poverty, including a $600 increase to the GIS for seniors.

The Green Shift will be part of a broader environmental plan to help Canadians reduce their environmental footprint, become more energy efficient and save on energy costs. It will include complementary regulations and incentives such as home retrofits, energy efficient appliances and vehicles, and low carbon farm and forestry practices.

“The Green Shift will not result in any new financial burden for Canadians, because already existing taxes will be cut at the same time.  This commitment will be put into law, and the Auditor General will be responsible to confirm this each and every year to Canadians,” said Dhaliwal.

Dhaliwal pointed out that Canadians are looking to their government for leadership after more than two years of Conservative government inaction.

“The Harper government has put all their energy into trying to confuse, mislead and scare Canadians rather than working with them to solve the problems of our day. They have tried to hide how their plan will cause a rise in energy prices. Only the Liberal plan will put money back in people’s pockets,” he said.

“People have had enough - they want real action and Liberals are determined to fight fear with hope, and lies with facts. Our plan is bold, achievable and the right thing to do.”

Dhaliwal said he will be looking for input from his constituents about the Green Shift.

“I invite the residents of Newton-North Delta to contact me to further discuss our plan and provide any feedback. I want our community to share their ideas and join in our coalition to build a richer, fairer, greener Canada.”

To learn more about the Green Shift and to find out how big your tax cut will be, go to www.thegreenshift.ca.  Sukh Dhaliwal is the Member of Parliament for  Newton - North Delta and the Opposition Critic for Competitiveness and the New Economy.

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