Saturday, August 27, 2011

British Columbia rejects HST in referendum

The Globe and Mail:

“They can’t simply do things because it’s the will of the premier or the party,” he said, noting the government must consult the people.

B.C. Finance Minister Kevin Falcon said B.C. will return to a PST and GST split within 18 months, and he will meet with federal Finance Minister Jim Flaherty next month to discuss repayment of $1.6-billion in transitional funding Ottawa paid B.C. to adopt the tax.

He also said B.C. will tighten operational spending but not job-creating capital expenditures, and balance its books, as scheduled, by 2013-2014.

In July, 2009, two months after a provincial election in which the B.C. Liberals ruled out the HST, Mr. Campbell announced the province. would follow Ontario’s lead in creating a single harmonized sales tax. Mr. Campbell resigned in late 2010, only 17 months into a third Liberal term, suggesting his own unpopularity over the HST was blocking the government’s economic agenda.

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