B.C.’s just-released budget has triggered mixed reviews in the mining sector.
The Mining Association of BC (MABC) has voiced concern over the government’s plan to raise corporate taxes to 11% from 10%.
“The 1% increase in general corporate income tax to 11%, together with the return to PST and the carbon tax, as examples, directly impact the competitiveness of the British Columbia mining sector,” stated Karina Brino, president and CEO of MABC.
“While recognizing that British Columbia remains in the top three jurisdictions across Canada in corporate taxation, we acknowledge that more demanding fiscal policies create hesitation in the investment community.”
The Association for Mineral Exploration British Columbia (AME BC), however, has voiced broad support for the budget.
Gavin Dirom, president and CEO of AME BC, commended the government for confirming a commitment to speed up permit processing in the budget.
“AME BC appreciates the confirmation of the government’s target of a 60-day turnaround for notice of work applications in the 2013 budget,” he said.
“We encourage the government to further improve the permitting process and realize the benefits of online notice of work applications, improved First Nations consultation and multi-area, multi-year permitting.”
Dirom commended the government for a “responsible” and “prudent” balanced budget in light of a fragile global economy.
Dirom pushed for more industry support in future budgets.
“As the provincial government works towards a surplus in 2013/14 and beyond, we ask the government to provide continuing support of Geoscience BC and the B.C. Geological Survey in fixture budgets that will encourage new investment in grassroots mineral exploration.”
