HST report for BC now available

The independent panel’s report of May 4,2011 titled “HST or PST/GST? It’s Your Decision”is now available. The panel’s report doesn’t provide a yes or no answer to the question of “HST or PST/GST?”, but it does clearly lay out the pro’s and con’s so a reader is more informed.

From a story in the Globe and Mail; “Here’s the part I liked the best: “A general rule of thumb is high-income earners, who spend more, will pay more sales tax under the HST. Those who earn less spend less and pay less sales tax.”

Well, yes, a little obvious. What it doesn’t say is that paying more, no matter what you spend, means you may have to cut back elsewhere. And that means those who earn less, in particular.

“If you vote to go back to the PST/GST, all those added sales tax costs would disappear. You will have more money in your pocket,” the panel concludes.

“That decision, however, has longer-term consequences. Going back to the PST/GST means turning away from the gradual future economic benefits expected with the HST. Those include a simpler sales tax system now used by more than 140 other countries and a more competitive economy, where goods and services are cheaper to produce, boosting our exports, attracting investment and creating better-paying jobs.”

The complete report, in PDF format, is available here.