It's back to the old PST-GST tax system in BC, according Vernon-Monashee MLA Eric Foster. ``We had a referendum and the majority of the people in the province want to go back to the system we had and we're going back to what we had,'' says Foster. The MLA admits the provincial government is disappointed with the results of the Harmonized Sales Tax referendum which saw the tax narrowly defeated. Foster says he wasn't suprised by the close vote in his own riding, 50.92 in favour of getting rid of the tax versus 49.08 against. He says the issue had always been ``pretty much split down the middle.'' He rejects suggestions that the big investors in the BC economy might react negatively. ``We're probably in better shape financially, from a stability point of view...certainly as good as or better than any other part of North America, certainly better than the Americans. We have a Triple A credit rating,'' says Foster. But ``it's a disappointment certainly to the sectors that were standing to benefit by this the most,'' he concedes. ``But they're not going to close up shop and leave.''Friday, August 26, 2011
On With The Old As BC To Return to PST-GST, Says MLA - Foster says big business, investors won't depart province
It's back to the old PST-GST tax system in BC, according Vernon-Monashee MLA Eric Foster. ``We had a referendum and the majority of the people in the province want to go back to the system we had and we're going back to what we had,'' says Foster. The MLA admits the provincial government is disappointed with the results of the Harmonized Sales Tax referendum which saw the tax narrowly defeated. Foster says he wasn't suprised by the close vote in his own riding, 50.92 in favour of getting rid of the tax versus 49.08 against. He says the issue had always been ``pretty much split down the middle.'' He rejects suggestions that the big investors in the BC economy might react negatively. ``We're probably in better shape financially, from a stability point of view...certainly as good as or better than any other part of North America, certainly better than the Americans. We have a Triple A credit rating,'' says Foster. But ``it's a disappointment certainly to the sectors that were standing to benefit by this the most,'' he concedes. ``But they're not going to close up shop and leave.''
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