SURREY BOARD OF TRADE: BC Carbon Tax Revenue Needs to Fund Transit

November 28, 2023

ANITA HUBERMAN

SURREY – Transportation stands as one of the foremost challenges for cities and businesses today, especially in Surrey. Given the pressing need to tackle climate change and promote sustainable transportation options, the Surrey Board of Trade is asking the BC Government to allocate revenue from the BC Carbon Tax towards transit initiatives. Despite businesses contributing to the carbon tax, the full benefits are not realized. By empowering transit authorities to invest carbon tax revenues in projects and services directly utilized by the workforce, businesses will witness tangible advantages from the outcomes.

“We are advocating for a revolutionary shift in using BC’s Carbon Tax revenues to fund transit initiatives,” said Anita Huberman, President & CEO of the Surrey Board of Trade. “In light of the pressing need to foster sustainable transportation solutions, we’re asking that the BC Government allocate these funds based on population, prioritizing regions with the most pressing transit needs.”

POLICY

BC’s Carbon Tax plays a pivotal role in curbing carbon pollution, signaling a commitment to reducing emissions while promoting sustainable economic activities and low-carbon innovation. Covering approximately 70% of provincial greenhouse gas emissions, the Carbon Tax rate recently increased from $50 to $65 per tonne of carbon dioxide equivalent emissions (tCO2e) on April 1, 2023.

Despite these changes, the Surrey Board of Trade emphasizes the need to ensure that businesses, particularly in regions facing significant transit challenges, benefit from the carbon tax contributions they make.

TransLink data reveals that transit infrastructure struggles to keep pace with rapid growth, leading to varied ridership rebounds across the Lower Mainland. Surrey and Langley have experienced a 15% increase since 2019, surpassing the 12% increase in bus service. However, other densely populated cities, such as Vancouver, Richmond, Burnaby, New Westminster, and the North Shore, continue to show substantial drop-offs from 2019 levels.

The Surrey Board of Trade urges the Provincial Government to consider this strategic allocation as a critical step towards achieving environmental and transportation objectives.

Anita Huberman is Anita Huberman President & CEO of the Surrey Board of Trade

 

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