Wednesday, July 29th18.5°C
27107
26306

Talk of sales tax at economic summit

Alberta Premier Alison Redford says a sales tax isn't on the agenda, even though many of the panellists at an economic summit that her government convened Saturday said it could be one solution to the province's fiscal woes.

"Oh, I don't think we're anywhere near that at all. I think the fact that people are beginning to talk about it as an idea is a really important thing," Redford told reporters after the day-long event.

"Ideas are important, but no need to jump the gun on that."

By law, Albertans would need to vote on a provincial sales tax through a referendum.

Alberta has prided itself for decades on being the only province not to have a sales tax and Albertans were amongst the most angry when the Conservative government of Brian Mulroney brought in a federal sales tax in the 1990's; two Tory MPs from Alberta left the Conservative caucus in protest.

Redford's government has said it faces a $6-billion oil and gas revenue shortfall, mainly due to the inability for Alberta crude to access markets that will pay the best price.

Among the business people, economists and academics in favour of bringing a sales tax to Alberta were George Gosbee, CEO of investment firm AltaCorp Capital, and University of Calgary tax expert Jack Mintz.

"It's my view that we don't have a cost problem, we have a revenue problem," Gosbee, who said spending cuts would be "draconian."

Gosbee said he's also in favour of bringing back health care premiums.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14301.80+224.44
S&P CDNX584.76-2.20
DJIA17751.39+121.12
Nasdaq5111.73+22.53
S&P 5002108.57+15.32
CDN Dollar0.7715-0.0007
Gold1096.90+0.60
Oil49.18+0.02
Lumber253.00+1.40
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.18+0.01
Knighthawk0.010.00
QHR Technologies Inc1.40+0.03
Cantex0.05+0.00
Anavex Life Sciences0.7865+0.0065
Metalex Ventures0.05-0.01
Russel Metals19.21+0.86
Copper Mountain Mining0.85+0.03
Colorado Resources0.06+0.00
ReliaBrand Inc0.0045-0.0022
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.14-0.01
Decisive Dividend Corp2.50-0.08

 





FEATURED Property
288212962 Ryder Drive
4 bedrooms 5 baths
$1,675
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_



26586

26509


Member of BC Press Council