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NEWS RELEASE

For Immediate Release
2011FIN0052-000624

May 31, 2011

Ministry of Finance

 

 

Motion to reduce HST to 10 per cent passes

 

VICTORIA – A binding motion passed in the B.C. legislature today is a firm commitment to all British Columbians that this government will keep its promise to reduce the HST to 10 per cent, Minister of Finance Kevin Falcon announced.

 

As a result of the motion being passed, British Columbia’s minister of finance must immediately advise the Minister of Finance for the Government of Canada to reduce B.C.’s portion of the HST to six per cent on July 1, 2012 and a further reduction to five per cent on July 1, 2014, subject to a “no” vote in the HST referendum.

 

Under the terms of the binding motion, the Province will also provide one-time transition cheques of $175 per child that will be issued to families with children under 18 years old. In addition, low- and modest-income seniors will receive a one-time transition cheque of $175.

 

These proposed changes to the HST, including transition cheques, will take effect only if British Columbians vote to keep the HST.

 

Quotes:

 

Minister of Finance Kevin Falcon –

 

“This binding motion makes it crystal clear to all British Columbians that this government will keep its promises on the changes to the HST.

 

“As a government, we are convinced that the HST is the right tax policy for the province.

 

“If British Columbians still prefer to return to the PST plus GST system – we will honour that decision and work as hard as we possibly can to make that decision successful for the province going forward.”

 

For more information about the HST, visit: www.HSTinBC.ca

 

Contact:

 

David Currie

Ministry of Finance

250 387-6591

 

 

Connect with the Province of B.C. at: www.gov.bc.ca/connect