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Greater Victoria, BC News

ARTICLE

Date ArticleType
11/18/2010 Media Release
Pull Back on Tax Deduction Gives Opportunity for HST Mitigation

MEDIA RELEASE

IMMEDIATE RELEASE                                                              

November 18, 2010

Pull Back on Tax Deduction Gives Opportunity for HST Mitigation

Victoria, BC – The 15% tax reduction promised by Premier Campbell, and suspended by the provincial cabinet, provides some latitude for the provincial government to look at other ways to address HST mitigation.

“The Chamber has been calling for targeted HST mitigation, particularly for hard hit industries such as the tourism industry,” says Bruce Carter, CEO of the Greater Victoria Chamber of Commerce. “If there is some budgetary room in our economic landscape, we would certainly encourage the province to proactively address some of the direct business issues related to the uneven impacts of the HST.”

The Victoria Chamber is in support of the HST as a sound provincial economic policy, but has expressed concern over how it impacts on tourism and the residential construction industries – both important industries to Greater Victoria’s economy.

“It is clear that the tax has benefits that are not distributed equally. Some of those were addressed on the personal side with the HST rebates for lower income persons. We now need to have a serious consultation with those small business in the tourism industry that are impacted and establish some mitigation strategies that can actually be implemented,” continues Carter. “I believe that would be a better investment in terms of HST mitigation than an overall 15% tax cut.”

The Greater Victoria Chamber of Commerce has approximately 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce.

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For more information contact:

Shannon Renault                                                                       Bruce Carter

Manager Policy Development & Communications                       Chief Executive Officer
Greater Victoria Chamber of Commerce                                      Greater Victoria Chamber of Commerce

Cell  250-812-0510                                                                     Email:  bcarter@gvcc.org

Email: srenault@gvcc.org

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