Close X
Sunday, September 22, 2024
ADVT 
National

Finance Minister Says B.C.'s Law Blueprint For Largest Private Investment Deal

13 Jul, 2015 12:24 PM
    VICTORIA — British Columbia's finance minister says he has introduced legislation that provides the blueprint for building and operating the province's first liquefied natural gas plant.
     
    Mike de Jong says the proposed $36-billion facility on B.C.'s north coast would be the largest private investment in the province's history.
     
    Pacific NorthWest LNG, a joint venture backed by Malaysian state-owned energy giant Petronas, proposes to build the plant near Prince Rupert though it has not yet made a final investment decision on the project.
     
    De Jong says the province's law provides Pacific NorthWest LNG with 25-year assurances specific to LNG-related income and ensures energy and environmental taxes do not increase while corporate and sales taxes could rise.
     
    He says the guarantees against targeted tax increases are a tradeoff in exchange for thousands of new jobs and billions of dollars in revenues that the LNG industry is expected to generate.
     
    Opposition NDP Leader John says the tradeoffs do not come with job guarantees for British Columbians.

    MORE National ARTICLES

    Ukrainian PM To Visit Canada This Week For Economic Talks Amid Financial Turmoil

    Ukrainian PM To Visit Canada This Week For Economic Talks Amid Financial Turmoil
    Arseniy Yatsenyuk was to arrive Tuesday for talks that will focus on the eastern European country's attempts at economic and government reform.

    Ukrainian PM To Visit Canada This Week For Economic Talks Amid Financial Turmoil

    Surrey Shooting: Deadly Gunfire Ends Violent Dispute As One Killed In East Newton Neighbourhood

    Surrey Shooting: Deadly Gunfire Ends Violent Dispute As One Killed In East Newton Neighbourhood
    Mounties have released few details about the incident in the East Newton neighbourhood (on 64th Avenue) not far from the Serpentine River.

    Surrey Shooting: Deadly Gunfire Ends Violent Dispute As One Killed In East Newton Neighbourhood

    B.C. Wildfire Official Calls For Vigilance Despite Arrival Of Wet Weather

    B.C. Wildfire Official Calls For Vigilance Despite Arrival Of Wet Weather
    On Monday, 52 Australian firefighters are scheduled to arrive into B.C. to help with fire relief efforts, while another contingent of Down Under personnel will soon show up to assist in other Western Canadian provinces.

    B.C. Wildfire Official Calls For Vigilance Despite Arrival Of Wet Weather

    RCMP Dive Team Searches For Missing Man After Vancouver Island Boating Incident On Sproat Lake

    RCMP Dive Team Searches For Missing Man After Vancouver Island Boating Incident On Sproat Lake
    Port Alberni RCMP say they launched their police craft around 4:30 p.m. on Saturday in response to reports of an on-the-water incident on Sproat Lake (in the Alberni Valley).

    RCMP Dive Team Searches For Missing Man After Vancouver Island Boating Incident On Sproat Lake

    Good News! Crews Contain 30 Per Cent Of A B.C. Wildfire

    Good News! Crews Contain 30 Per Cent Of A B.C. Wildfire
    VANCOUVER — Good news in the ongoing battle to contain an aggressive, 70-square-kilometre blaze raging in the Cariboo Region of Central British Columbia.

    Good News! Crews Contain 30 Per Cent Of A B.C. Wildfire

    Feds Look To Family Benefit Cheques, Infrastructure Spending To Boost Economy

    OTTAWA — All but overlooked in the past week of troubling economic news was federal Finance Minister Joe Oliver's unexpected nod to government stimulus spending.

    Feds Look To Family Benefit Cheques, Infrastructure Spending To Boost Economy