Mintz weighs in on HST vote in BC

Killing harmonized sales tax will hurt provincial economy

CALGARY, May 31, 2011 /CNW/ - In a communiqué released today by The School of Public Policy, Professor Jack Mintz analyzes the recently proposed changes to the BC HST and compares their potential impact against the impact of simply scrapping the HST.

The bottom line?  If voters kill the HST, BC's economy will suffer in the long run.  The retail sales tax will have to be reintroduced, leading to steep increases in the marginal effective tax rates on capital and costs, and a dip in investment and job creation.

On the other hand, if the HST is retained, the government's new proposals will reduce the tax by two points and raise the corporate tax to bridge the revenue gap.  This will also negatively impact corporate competitiveness, but since the government has indicated this tax corporate hike would be temporary, retaining the HST is the best option for the BC economy.

The communiqué can be found at www.policyschool.ca under "latest papers."

SOURCE University of Calgary - School of Public Policy

For further information:

For more information or to arrange an interview with Professor Mintz contact:

Morten Paulsen
403.399.3377
morten@paulsengroup.ca

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University of Calgary - School of Public Policy

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