According to Finance Minister Kevin Falcon, BC will scrap the HST, return to the PST on April 1 2013 and repay $320 million per year to the federal government in each of the next five years to return the $1.6 billion transition funding provided by Ottawa.
The next provincial election is on May 14, 2013.
According to Angus Reid Public Opinion results issued this month, the New Democrats hold a lead over the governing BC Liberals, who drop below 30% for the first time since Gordon Campbell’s departure.
According to me, before departing, the Liberals aim to squeeze out as much lucre as they can for their big business friends while the next government is left to fund revenue shortfalls.
Kevin Falcon will soon impose a 2012 budget and another before next year’s election. The government will introduce new sales tax exemptions for business and other tax relief so corporations continue pocketing the almost $2 billion annual savings gained under HST. Of course, this political party plans a scorched earth policy to make life difficult for the succeeding government.
I also note that Liberals have repeatedly claimed their hands were tied in matters related to scrapping HST but today they announced an increase in the BC HST rebate threshold, a move which is expected to save new house purchasers about $60 million in the coming year. So Liberal “hands are tied” in affecting HST transition, unless they decide their hands are not tied.
The only thing consistent about BC Liberals is the contempt they hold for citizens of this province.