Carbon levy and tax credits focus of Alberta's legislative session

New tax credits to stimulate business and investment, the unfolding of Alberta's new Climate Leadership Plan, and preparing students for the future will be government priorities in the fall legislative session that startsMonday.

NDP House leader Brian Mason saysthe government is focusing on three key areas to help the province emerge from the current economic downturn.

"We are going to provide an update to Albertans on the measurable outcomes of the Alberta jobs plan so far," Mason said Thursday. He has instructed all government departments to take stock of the impacts any policy changes have had on job creation.

Government will also introduce legislation to encourage economic growth and to improve Alberta's investment climate by establishing two new tax credits.

The investor tax credit will offer a 30-per-cent credit to investors who contribute venture capital to small businesses involved in research and development, interactive digital media, post production, digital animation and tourism.

Encouraging new technology

Mason couldn't put a dollar figure on the tax credit but said the government is focusing on the tech industryto encourage growth in an emerging industry.

"A lot of them are cutting-edge technology and things that we want to bring into the province."

The other new tax credit will return 10 per cent of a corporation's costs associated with the purchase of capital assets such as machinery, equipment and buildings.

Details coming on carbon tax

But by far the most comprehensive piece of legislation will be the Climate Leadership Plan. It will contain precise details on the new carbon tax which begins in January, and how the government intends to manage the contentious transition from coal-fired electricity to renewable energy sources.

Mason couldn't say if the legislation will contain details of how coal companies will be compensatedfor the accelerated phase out.

"I think there's some discussions going on about that possibility, but I do not believe they're concluded," he said.

Alberta has promised to end all coal-fired electricity generation by 2030 as a way to reduce greenhouse gas emissions.

Wildrose Leader Brian Jean said he's concerned about Alberta's high number of unemployed workers, and the impact of the climate change plan.

"We have over 100,000 Albertans out of work and wherever I go I see the look on their faces of anguish," Jean said.

"That's what we're going to be focused on."

There are at least 15 pieces of legislation that will be introduced this session which is scheduled to end Dec. 8.