As of midnight Wednesday, the Provincial Sales Tax will be reduced from 7.5 per-cent to seven per-cent.
The announcement comes just eight days before a hotly contested by-election in Surrey-Panorama Ridge but Premier Gordon Campbell claims there's no connection.
The rollback will cost the government about 120 million dollars in revenue for the remainder of this fiscal year and 270 million on an annual basis.
The government expects to record a surplus of about one billion dollars this year.
Poll: Tax Cut Election Goodie?
Previous Polls
April 20, 2024 - 8717 votes
Do you get medical insurance when you travel?
Yes: | 7377 | |
No: | 1225 | |
Unsure: | 115 |
April 18, 2024 - 7335 votes
Do you agree with using surplus federal and military buildings for residential housing?
Yes: | 4621 | |
No: | 2271 | |
Unsure: | 443 |
April 17, 2024 - 8646 votes
Should the federal government cut programs and staff to balance the budget before adding new taxes?
Yes: | 6910 | |
No: | 1298 | |
Unsure: | 438 |
April 16, 2024 - 10935 votes
Should wealthy Canadians pay higher taxes?
Yes: | 6840 | |
No: | 3488 | |
Unsure: | 607 |
April 15, 2024 - 7161 votes
What should be the main thrust of the federal budget—housing, affordability, tax reduction?
Housing: | 751 | |
Affordability: | 2616 | |
Tax reduction: | 3794 |
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