Premier Recalling Legislature November 20th
By 250 News
Wednesday, October 22, 2008 06:28 PM
Prince George, B.C.- Premier Gordon Campbell has announced his 10 point plan to shore up the economy of B.C.
In his 15 minute address, the Premier started by saying the global economic problem is not someone else’s problem, “it is all of our problem.” While The Premier says B.C. is in better shape than most with a triple a credit rating, “We will not let this economic slowdown return us to the ranks of the have not provinces we saw in the 1990’s”
1. Act to strengthen deposit protection to everyone who has deposits in credit unions. Act to provide unlimited insurance to those with deposits in credit unions
2. Create a new pension option for B.C residents who have no access to a pension plan. This will be a privately financed plan available to all employers, employees and self employed on a voluntary basis.
3. Accelerate income tax relief with further 3% cut in personal income tax retroactive to January 2008. “This will put $144 million dollars back into homeowners pockets” Further corporate tax cuts, bringing to 10% the corporate tax cuts
4. 50% of all school taxes to be returned to industry to help industry survive downturn
5. Act to accelerate relief for B.C’s small businesses which employ more than 1 million people. Tax rate cut will be 2.5% effective the end of this year.
6. Raise the commission paid to business for collection of pst and hotel room tax, the first increase in 14 years
7. Accelerate public investment in capital infrastructure.
8. Fund a 33% reduction in ferry fares for December and January and will restore all routes ( cost of $20 million dollars)
9. Act immediately to rein in avoidable government spending to avoid deficit spending “We will not start digging ourselves back into the hole we all worked so hard to get out of” He admits the government will not be able to avoid everything it might like.
10. The Legislature will be recalled for November 20th to enact these measures
The measures will be supplemented by other measures as the months progress.
“We have a duty to be prudent and fiscally responsible with your dollars.”
The Premier will be on the Meisner program tomorrow ( Thursday) morning at 9:00 on 93.1 CFIS FM and on Opinion250 through Live Streaming audio.
Earlier today, Ontario declared it will have to enter a deficit because of the economic downturn, and Saskatchewan announced tax breaks to stimulate its economy.
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