It’s budget day in B.C., and a tax cut is expected, as mentioned by Premier Christy Clark last week.
At least one economist says a personal income tax break is going to put the most money back into the pockets of the average British Columbian.
Helmut Pastrick is the Chief Economist with Central 1 Credit Union.
“Our incomes are typically quite larger than the amount we spend on retail goods, on which the sales tax is administered. So the savings on a 1% change in the personal income tax would be larger than the saving on a 1% change on the sales tax.”
The B.C. Liberals are sitting on a $2.2 billion surplus.
This will be Finance Minister Mike de Jong’s 5th consecutive balanced budget.
The budget will come down just after 2:00 PM.