The independent panel appointed by the provincial government to examine the HST released its report yesterday in anticipation of June’s referendum.
Without mincing words, the report states the majority of British Columbians are paying more at the cash register since the introduction of the HST.
The panel concluded, however, that the HST would give the economy a bigger boost than the PST/GST: $2.5 billion.
The panel also found the HST could be credited with the creation of 24,400 more jobs.
The report noted some businesses, such as restaurants, have suffered since the HST was implemented. But it said a return to PST/GST would make B.C. exports less competitive and dampen business investment.
As for consumers, the report states the HST has increased average household expenditures by $350.
Panel members included chairman Jim Dinning, former finance minister of Alberta; George Morfitt, former B.C. auditor general; Tracy Redies, Coast Capital Savings president and CEO; and John Richards, professor of economics at Simon Fraser University.
Dinning said in a release, “The choice B.C. voters face in the upcoming referendum comes down to looking carefully at the implications of each option. There are pros and cons to each sales tax system, as well as implications for British Columbians as consumers, taxpayers, workers and families.”
Jennifer Harrison