BR NL Budget -CP

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BR NL Budget -CP

by ahnationtalk on April 15, 2016217 Views

Source: The Canadian Press – Broadcast wire
Apr 15, 2016 

ST. JOHN’S, N.L. – Critics are panning Newfoundland and Labrador’s budget calling it the Tax on Pretty Much Everything Budget.

Des Whelan, chairman of the St. John’s Board of Trade, says the province can’t tax its way back to prosperity.

Whelan says increasing every tax, fee and levy will take money out of the hands of small business people and hamper the economy’s ability to grow.

Despite the dizzying range of tax and fee hikes on everything from gasoline to ferry rides the forecast deficit is still 1.8 billion dollars.

Finance Minister Cathy Bennett blames 12 years of Progressive Conservative rule, accusing the Tories of squandering historic wealth with spending increases and tax cuts hinged on volatile oil prices that have since crashed.

The measures will see gas taxes increase by 16.5 cents a litre _ double the current rate _ starting June 2nd.

ked

(The Canadian Press)

INDEX: OIL&GAS NATIONAL BUSINESS POLITICS

 

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