The softwood lumber tax on exports to the United States will be reduced by one third to 10 per cent on May 1 because lumber prices have increased, the first decrease since the tax was imposed in 2006.
"This is reason to celebrate," said B.C. Forests Minister Pat Bell. "The reduction in the export tax is good news for B.C.'s lumber companies and employees that work for them."
Under the seven-year softwood lumber trade agreement with the U.S., export tax rates rise as lumber prices fall.
For more, see the Citizen.
