BC Government’s ‘clueless’ budget
| Editorial |
Will McMartin, contributing writer to The Tyee news, said yesterday that the recently announced 2010/11 BC budget shows that the Liberal government is fiscally clueless, citing two examples to prove his point.
He said that the first questionable Campbell government policy decision regards taxes paid to the provincial treasury by Canada's big banks and other large financial institutions, and that the second puzzling decision involves B.C.'s new Harmonized Sales Tax.
According to Mr. McMartin, the HST issue centres on a one-time federal transition payment---in this case, a $1.6 billion inducement offered by Ottawa to get B.C. to repeal its seven per cent social services (sales) tax in favour of Ottawa's goods and services tax, which will be applied in this province at a 12% rate.
In his article in The Tyee yesterday, he said that the Campbell Liberals have decided to fudge the timing of those federal payments.
He stated that the BC Liberals believe that ‘windfall federal government monies’ are most needed just before the next general election scheduled for 2013, and not at the present time.
For Will McMartin’s article, visit www.thetyee.ca
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