The Liberals claim that it will "boost the economy". Bull shit! The real money quote is here:
[Finance Minister] Hansen said ... "In B.C., we have some big budget challenges because of declining revenues. This will help us to ensure we can continue to provide health care, education and vital social services.""... big budget challenges" - no doubt exacerbated by massive Olympic Games cost overruns. Any way you slice it this is just one more giant freaking TAX GRAB.
The new tax will hit a wide variety of goods and services now exempt from PST - the restaurant industry being one big example. But the single biggest and most important asset most people have is their home. New homes will now cost tens of thousands of dollars more. Real estate commissions and lawyers’ fees will be taxed a further 7%.
It’s time for the BC Conservative party to get rolling.