Mixed Reaction to Budget
“With hundreds of millions of dollars in new funding for public education, children in care, and mental health, the government has moved quickly to make good on their promises to BC students, parents, and teachers” says BCTF First Vice President Teri Mooring. Mooring also says the increased tax rate for large corporations and those making more than $150 thousand a year brings a fairness to the tax system.
The Canadian Taxpayers Association doesn’t agree with everything in the spending plan announced by Finance Minister Carole James. “BC taxpayers will pay more for heating their homes, driving their cars and running their businesses in the wake if this budget, because the carbon tax is going up and it isn’t even going to be revenue neutral anymore”, said Kris Sims, BC Director of the Canadian Taxpayers Federation. The CTF also expresses concerns over the increase in the Provincial debt , saying the spending plan will increase the Provincial debt by $6.9 billion dollars by the 2019-2020 fiscal year. It is also not too happy with the increased tax rate for high income earners and corporations. .
But the CTF also gives thumbs up to a couple of other initiatives such as the 50% reduction in MSP premiums as the first step to eliminating the premium, and supports the reduction in the small business income tax rate.
The Canadian Centre for Policy Alternatives calls the budget “a strong start in addressing crucial issues for British Columbians.” CCPA Senior Economist Iglika Ivanova says investments in affordable housing, including 2,000 units for the homeless “is very good news.”