New Report Says HST A Good Thing For B.C.
By 250 News
Tuesday, March 09, 2010 03:54 AM
Prince George, B.C. – As the anti-HST campaign prepares to roll out its riding by riding petition program, the Provincial Government has released a report that says the HST will be a benefit to the Province.
According to the report by economist and tax expert Jack Mintz, harmonization of the sales tax and corporate tax cuts will boost capital investment by $14.4 billion dollars and result in a net increase of 141 thousand jobs by the end of the coming decade.
"Without a doubt, British Columbia's sales tax harmonization will be a game changer, promoting capital investment in the province and providing an opportunity for the private sector to create jobs and pay higher wages to workers," says Dr. Jack Mintz. "Tax reforms will have a profound effect on the economy with B.C. leaping toward fast becoming one of the most competitive jurisdictions in the world."
All industrial sectors in B.C. will benefit from sales tax harmonization and will see their effective tax rate on new investment drop by over a third, according to Mintz, while some will see reductions of over 40 per cent. Small businesses will also see substantial benefits with their effective tax rate on new investment declining by almost 60 per cent.
Widely published in the field of public economics, Mintz was appointed the Palmer chair in public policy at the University of Calgary in January 2008.
Meantime, the anti-HST campaign hits Prince George Friday night with a special meeting at UNBC. That meeting is set for 7 p.m. in room 7-238.
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