Carbon tax could generate $50 billion in annual revenue: Suzuki

THE CANADIAN PRESS
OTTAWA - The David Suzuki Foundation says a federal carbon tax or trading system could generate revenue of at least $50 billion a year by 2020.

A new report from the environmental foundation says a fee on the emission of greenhouse gases would also dramatically reduce the problem.

But if saving the environment isn't enough to motivate people, the group appeals to the place where many Canadians who oppose such a plan say they would feel it most - their pocketbooks.

It says money made from a carbon tax could be used to create jobs, spur green innovation and reduce personal income taxes.

Suzuki says Canadians who conserve energy should be rewarded while carbon-intensive industries should pay the price.

The scientist and broadcaster says the days when the atmosphere could be considered a free dumping ground are over and he argues there is growing consensus over the principle that polluters must pay.

The group says the carbon price that British Columbia introduced last week sets a positive example that the federal government should follow.

It says a "well-designed" revenue-use policy would reduce the economic impact of a carbon tax.

It says several countries, including Germany, Norway, Britain and Sweden, have imposed prices on carbon and greenhouse-gas emissions have subsequently decreased.

© The Canadian Press, 2008