VICTORIA, B.C. – Premier John Horgan has released a statement after the legislative assembly passed the Income Tax Amendment Act.
The Income Tax Amendment Act sets out the final pieces of the Province’s fiscal framework for liquefied natural gas projects in B.C.
According to Horgan, the Act will secure the largest private-sector investment in Canadian history.
Horgan says his government has set four stringent conditions for LNG in B.C. that will fit under the CleanBC plan.
“Our government set four stringent conditions for LNG in B.C.: a fair return for our natural resources, jobs and training opportunities for British Columbians, partnerships with First Nations, and the project must fit within our CleanBC plan.”
According to the Government, the LNG Canada project will create jobs and opportunity for Kitimat, the Haisla Nation and people in the North, and is expected to generate $23 billion in government revenues to support public services for all British Columbians.
Horgan also says reconciliation with First Nations is vital to the project’s success.
“The benefits of LNG Canada’s investment will require government’s full commitment for many years. A continued focus on reconciliation with First Nations, particularly those on whose territory the project will be built, is vital to success.”