Legislation completes LNG framework

By Greg Fry
March 25, 2019 - 3:02pm

VICTORIA — B.C. Finance Minister Carole James says legislation passed today means all the pieces are in place to deliver LNG investment in B.C.

James said the legislation will amend the Income Tax Act to implement a natural gas credit for LNG development in BC. 

It will also repeal the Liquefied Natural Gas Income Tax that created barriers for investment in BC's natural gas sector and will repeal the Liquefied Natural Gas Project Agreements Act that left British Columbians vulnerable to footing the bill for special industry tax and regulatory protections. 

Though the BC Green Party blasted the framework, with Leader Andrew Weaver calling it "a generational sellout" when it comes to the fight against climate change, James says the stage is now set for a thriving LNG industry in BC.

 

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