| March 9, 2010 VICTORIA - NDP leader Carole James's rejection of a report showing the Harmonized Sales Tax will create more than 113,000 jobs over the next 10 years highlights the NDP's incompetence. "This report by one of Canada's pre-eminent economists clearly shows the benefits that will accrue to British Columbia," says Finance Minister Colin Hansen. "The report by Dr. Jack Mintz illustrates the HST is a game changer and will result in more than $14 billion in new investment, thousands of new jobs across the province and put British Columbia in a stronger economic position than almost any other jurisdiction in Canada. "The NDP opposed the largest personal income tax reduction in B.C. history, they opposed the reduction of corporate capital taxes, they've opposed the reduction of small business taxes and they opposed the carbon tax - and each time the NDP was wrong and they’re wrong this time." The NDP have offered conflicting versions of its HST position.
"The NDP need to stop the irresponsible rhetoric and come up with one position on the HST. The NDP have opposed every economic measure the government has taken and the only economic scheme that Carole James has proposed is reckless spending," says Hansen. "The HST will encourage business investment, will create jobs and will ensure British Columbia comes out of the economic slowdown in a strong position." According to the report, 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, 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. Visit www.governmentcaucus.bc.ca -30- | |
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