CBC: Liberal carbon plan to offer $15.5B in tax cuts

[tuvor]

Liberal Leader Stéphane Dion's new carbon tax plan calls for $11 billion in personal income tax cuts, exemptions on new taxes for aviation and diesel fuel for the first year, and extra help for vulnerable Canadians, CBC News has learned.

The plan, to be called the "Liberal Green Shift" and due to be unveiled in Ottawa on Thursday, includes about $15.5 billion tax cuts in total, according to Liberal sources.

As CBC News has already reported, the four-year plan will include controversial new taxes on emissions that will rise over time to try to reduce the use of fossil fuels by Canadian industries and homeowners. Tax breaks, however, will be offered to corporations and individuals to make the measures revenue-neutral for the federal government.

The 40-page document, sources said Wednesday, is expected to outline a one per cent reduction in both the general corporate tax rate (to 14 per cent from 15) and the small business income tax rate (to 10 per cent from 11).

The plan will also offer the following personal income tax cuts, as people pay more for heating costs, food and other items:

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http://www.cbc.ca/canada/story/2008/06/18/liberal-carbon-plan.html#socialcomments

[HeresyLives]

1. Well, if that's true

I'd say the Harper gang is dead in the water.