By Dave Hamilton
Philip Hochstein, President of the Independent Contractors and Businesses Association of B.C., called today’s referendum results a disappointment for the province and the construction industry.
“British Columbians lost a powerful economic tool this past Friday – one that was already creating jobs, increasing investment, and building the construction industry,” said Hochstein. “Now B.C. will hand back $1.6 billion to the federal government and spend millions to move back to an old, inefficient tax system with no benefits.”
Hochstein added that the family-owned construction companies who make up ICBA now face higher costs and wasted efforts to go through the transition back to the PST-GST.
“They’ll be spending time with forms and systems instead of building – and all to move to a tax system that will hurt rather than help job creation,” Hochstein said.
ICBA’s President encouraged the government to look for ways to keep the job-creating efficiencies of the HST when it brings back the PST-GST system.
“The way the HST worked – especially its flow through nature – was driving investment and job creation in B.C. by lowering costs for a wide range of employers,” Hochstein added. “If there is way to add that powerful tool to the out-of-date PST system, British Columbians will benefit.” says Hochstein