Liberals Announce Cut In Personal Income Tax

By 250 News

BC’s Finance Minister, Carole Taylor, says in keeping with the 2007’s budget theme of housing, the Liberals will offer relief for working families in the form of tax relief -- a 10-percent cut to personal income taxes for those earning up to $108-thousand dollars annually.

"Despite our thriving economy, too many families are still feeling pressed, feeling as though they, personally, are not sharing in the benefits of these good times, too many families are feeling the pressure of high housing costs and still finding it hard to make ends meet," says Taylor, "So what can we do as a province?  Well, we can start by leaving more money in their pockets."

The Finance Minister says for a family of four with both parents working to bring in just under $70-thousand dollars a year, that cut translates into a tax savings of $18-hundred dollars per year.

Taylor has also announced a $250-million dollar housing endowment fund that will be a "housing legacy for our children" - the fund will be used to stimulate and encourage innovative and new ideas for accomodations for B.C. residents.

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