Balanced Budget Approach – Appropriate
February 19, 2013 – Victoria,
BC – In difficult financial times the
government has taken a balanced and modest approach in curbing spending,
increasing taxes and continuing to invest in our future. The increase in
corporate taxes of 1% allows BC to remain competitive and the small business
tax rate remains unchanged. The important role small business plays in our
economy is clear.
The investment in a number of
programs will benefit our economy in the long term in particular investments
include:
o Childcare
o Education
o Transportation
Asset disposal creates an entrepreneurial opportunity. The underperforming of dormant assets held by the province will likely be a catalyst for increased investment. The private sector is best positioned to re-invigorate dormant assets.
The elimination of the Light
Industrial School tax credit is unfortunate as this sector is incredibly
important to our economy and the revenue is relatively small.
“The provincial government is
faced with limited options in these challenging economic times. The balanced
approach avoiding drastic measures in either service cuts or tax increases is
laudable,” said Bruce Carter, Victoria Chamber CEO.
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