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Environment committee The incentive is not just about the 10% of the amounts collected under this system. Returning 90% to people is an incentive in itself, through which we want to see their behaviours changed, their purchases rethought, and a little more spent on green products and services.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee Actually, most economists agree that the most effective way of changing people's behaviour in this respect is to increase the relative price of goods.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee That is what the government is doing here. Giving the money back to the people guarantees that they will have and will keep a certain purchasing power and make their decisions accordingly.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee The rebate is part of the incentive. The first aspect of it, which will change an individual's habits, is changing the prices through the fuel charge.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee The rebate is there to ensure that individuals are not worse off, that faced with these new prices, they still have the financial ability to actually change their behaviour.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee So, they both go together.
November 6th, 2018Committee meeting
Miodrag Jovanovic
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee As part of the approach, as I said earlier, the bulk of the proceeds from the regime will be given back to individuals and families. There would still be a portion. It going to vary province by province, but it may be roughly about 10% that will be allocated to funds to address o
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee As I said, all those details—eligibility criteria and other aspects—will be released at a later time.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee This is essentially a mechanism to redistribute the proceeds from the carbon pricing regime, so it will not cost more. There will be an annual assessment to reconcile the climate action incentive payment as well as the SME and the MUSH funds so they correspond with the proceeds f
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee Roughly, yes.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee Yes, that's correct. I would just characterize a bit more the GST on that. I don't think it's possible to directly assess the amount of GST on that properly, because part of that charge is indirectly on costs of groceries and all that, so it's not all subject to GST.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee I can't really speculate on what will be done in the future. What I can just repeat is that this 10% is just an amount that has been determined by the government as being sufficient and appropriate to recognize the unique circumstances. There was no science behind that. I don't
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee Yes, that's going to be a B.C. decision.
November 6th, 2018Committee meeting
Miodrag Jovanovic
Environment committee The incentive amount will not be dependent on the income of the individual or family. It's going to be dependent on the number of individuals and the composition of the family. It's going to be a fixed amount for the first adult, then a lower amount—typically half of it—to the sp
November 6th, 2018Committee meeting
Miodrag Jovanovic