Tuesday, March 3rd-6.3°C
25405
23829

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

24356


Recent Trending




Today's Market
S&P TSX15140.79-123.26
S&P CDNX704.01-0.34
DJIA18155.37-133.26
Nasdaq4963.038-45.059
S&P 5002101.52-15.87
CDN Dollar0.8024+0.0049
Gold1202.30-5.3999
Oil51.59-0.55
Lumber299.70+0.20
Natural Gas2.699-0.035

 
Okanagan Companies
Pacific Safety0.135+0.015
Knighthawk0.010.00
QHR Technologies Inc1.58-0.02
Cantex0.035-0.005
Anavex Life Sciences0.175-0.005
Metalex Ventures0.04-0.005
Russel Metals25.33-0.21
Copper Mountain Mining1.26-0.03
Colorado Resources0.13-0.005
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.225-0.01

 





FEATURED Property
1619790Loseth Road South
$180,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...

_








Member of BC Press Council


24681