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As dust settles, no party has plan to fix the PST

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Many British Columbians sat on the edge of their seats as the final ballots of the Provincial election were counted. The nail-biting event ended not with a sigh of relief, but with an overall sense of uncertainty for the future of BC.

The results are in: no party won enough votes to form a majority government.

For now, we can hope that the parties will put aside their differences to work together. While finding common ground between platforms will help our short term anxiety, we are far from resting at ease. The BC Provincial Sales Tax has continuously been a number one ranked issue for CFIB members. The unwelcoming truth is that no party has proposed a plan to fix it.

Broken, flawed, inconsistent - these are only some of the words that business owners would use to describe the PST. As the leaders continue to ignore this issue, they continue to ignore the importance of small business in BC’s economy. However, we at CFIB promise to never give up and never go away, and will be your advocates to see change.

Not only is it an administrative nightmare, the PST directly hurts small businesses, limiting their opportunity for growth in an ever-competitive market. To fix the PST, CFIB has some recommendations:

Short-term goals:

  • Keep the commitment to remove PST on Electricity
  • Remove the PST on business inputs (e.g. machinery and equipment)
  • Simplify the administration of the PST

 

Long-term goals:

  • Consult the public on value-added tax allowing the government to maintain current PST exemptions

 

Moving forward, the parties should work together to adopt these strategies. We at CFIB will continue to apply pressure to fix the PST.