We need to balance the budget before any major tax breaks or significant new spending initiatives.
The fate of the HST will have a major impact on revenue needed to balance the budget. I will ensure that there is a strong Plan B, if the HST fails, to protect business competitiveness while ensuring revenue is replaced.
Controlling spending and boosting economic growth, not tax increases, are my preferred ways to reach a balanced budget.
First, if the HST fails I will be interested in exploring opportunities that we can improve on our PST to eliminate some of the administrative burden and complexity for operators that the HST was meant to resolve. Second, I have committed to adding an additional question to the HST referendum to asking British Columbians to decide on the next phase of the carbon tax. Third, resource royalties – opportunities for incentives or credits in those areas that will drive economic activity.
We can get back to balanced budgets that were a hallmark of the BC Liberal government for most of the past decade. I attach great importance to government living within its means and would apply fiscal discipline and pursue economic development to generate more wealth in order to eliminate the deficit.
First, maintain the economic strategy that has been in place since 2001, and which has created prosperity for British Columbians and helped protect public services. Second, attract investment and grow our export economy. Third, maintain a competitive tax regime.
Declined to respond to Business in Vancouver’s questions