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NewsComox Valley leaders pleased with BC Budget
"This budget is very reflective of the financial times we face both as a province and a country," said Comox Valley MLA Don McRae. "Also, there's hope and we're going to move forward and do well for British Columbian families." The new Provincial budget handed down on Tuesday afternoon focuses on balancing the books, to achieve a $154 surplus in the 2013-14 fiscal year. The Comox Valley Chamber of Commerce says the best bits have to do with homes and tourism. "This budget includes an elimination of fuel tax on international flights, which could greatly enhance the attraction for YQQ for new services to the Comox Valley," says Chamber president Dianne Hawkins. "Significant advertising to attract international investment is good for the tourism sector here in the Comox Valley." "One thing that's very special for the Comox Valley is recognition of low-income veterans, for home-owner grants for those under the age of 65," says McRae, of a measure foreshadowed on Remembrance Day, 2011. Click here to read more about the veterans grants. "There is an enhanced first homeowner buyers bonus, so if you are a brand new homeowner buying a brand new home, you're up for a $10,000 government rebate, basically a cheque in the mail," explains McRae. The Chamber of Commerce hopes that will help young workers afford to stay in the Comox Valley, while a separate home renovation grant for seniors is also welcomed. "I think it's great news for seniors because many people have lived in their homes for a long time and this is an opportunity for them to upgrade it to meet their needs, where they are in their lifestyle right now, and maybe even stay in their homes longer," says Hawkins. Finance Minister Kevin Falcon says the BC Government is just like many BC families in having to tighten its belt and make some tough decisions. A planned drop in the corporate income tax rate has been cancelled, while the general corporate tax rate is actually being increased. "The good news for us is that the small business tax will stay firm, although it may increase in a year or so," said Hawkins. "I think the most important thing for us to remember is that in BC we happen to be the lowest in Canada in reference to our debt ratio and we still hold a AAA standing." The current deficit is $2.5 billion, which is $600 million less than expected, but the province's debt is expected to climb fronm $57 billion to $66 billion two years from now. McRae notes there is nothing in the budget about the Comox Valley's new hospital, nor is there any provision for new vessels for BC Ferries. Similar StoriesMost Viewed Stories
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