VANCOUVER: The Canadian Taxpayers Federation (CTF) is outraged over the B.C. government’s decision to reverse a 15 per cent personal tax cut slated to come into effect on January 1st.
“This government has clearly lost its way,” said incoming CTF-BC director Gregory Thomas. “They finally did the right thing and ensured the HST change wasn’t going to hit families in the pocketbook with the 15 per cent tax cut, only to flush it all down the toilet with today’s flip-flop.”
The CTF applauded the B.C. government following the outgoing premier’s tax-cut announcement on October 27th. The CTF calculated that the 15 per cent tax cut ensured that the vast majority of B.C. families were no longer going to be financially disadvantaged by the implementation of the HST.
“It’s ironic that the one thing this government managed to do right over the past few months has now been reversed,” continued Thomas. “The next premier must do the right thing and protect B.C. families from the HST with a personal tax cut.”
The CTF will be urging B.C. Liberal Party leadership candidates and all political parties to follow through with a plan to cut personal income taxes.
“The excuse of wanting to give the government ‘maximum flexibility,’ isn’t going to fly with B.C. families who would love to have a bit of fiscal ‘flexibility’ themselves,” continued Thomas. “If this government is truly concerned with balancing their budget, they need to start looking at places to cut, rather than places to tax.”
Mr. Thomas joins the CTF after a career spanning 20 years in the investment and banking industry as an advisor and financial planner and four years writing a daily financial markets column in the Vancouver Sun.
Mr. Thomas is a graduate of Simon Fraser University, where he majored in finance and economics. He worked in business magazine and book publishing before working in mortgages and investments at two chartered banks, as well as Canada’s largest independent investment dealer. He holds the Certified Financial Planner and Canadian Investment Manager designations.
Is Canada Off Track?
Canada has problems. You see them at gas station. You see them at the grocery store. You see them on your taxes.
Is anyone listening to you to find out where you think Canada’s off track and what you think we could do to make things better?
You can tell us what you think by filling out the survey