When will the GST cut be finalized?

[SamStranger]

Assuming that the Conservatives win...

The first thing is to pass the federal accountability act. But... how long will it take before the GST goes from 7% to 6%??? Will it be within a month, 2 months, or even a year?

[geoffrey]

Assuming that the Conservatives win...

The first thing is to pass the federal accountability act. But... how long will it take before the GST goes from 7% to 6%??? Will it be within a month, 2 months, or even a year?

It will most likely be in the first budget, which will have to be released very soon after (I wouldn't be suprised if they have a working draft in progress already). The Provinces need to know whats going on, so a budget within a month of the throne speech wouldn't be unlikely.

[tml12]

Assuming that the Conservatives win...

The first thing is to pass the federal accountability act. But... how long will it take before the GST goes from 7% to 6%??? Will it be within a month, 2 months, or even a year?

It will most likely be in the first budget, which will have to be released very soon after (I wouldn't be suprised if they have a working draft in progress already). The Provinces need to know whats going on, so a budget within a month of the throne speech wouldn't be unlikely.

I can't wait!

I mean, I know it is not one of the greatest economic moves in the world and with the 7.5% sales tax we already have in Quebec it won't be extremely noticeable, but hell...it'll add up...

[geoffrey]

Assuming that the Conservatives win...

The first thing is to pass the federal accountability act. But... how long will it take before the GST goes from 7% to 6%??? Will it be within a month, 2 months, or even a year?

It will most likely be in the first budget, which will have to be released very soon after (I wouldn't be suprised if they have a working draft in progress already). The Provinces need to know whats going on, so a budget within a month of the throne speech wouldn't be unlikely.

I can't wait!

I mean, I know it is not one of the greatest economic moves in the world and with the 7.5% sales tax we already have in Quebec it won't be extremely noticeable, but hell...it'll add up...

It's a great economic move, I stand behind this, even if eureka will flip out about it. Consumption taxes always hurt the economy.

I'm never one to complain either if someone is going to make everything 2% cheaper.

[Riverwind]

Consumption taxes always hurt the economy.

All taxes hurt the economy - we don't have a good balance between income and consumption taxes. We should raise the GST and lower income taxes.

[geoffrey]

Consumption taxes always hurt the economy.

All taxes hurt the economy - we don't have a good balance between income and consumption taxes. We should raise the GST and lower income taxes.

Sillyness, we shouldn't have consumption taxes. Lower income taxes are nice too, but you shouldn't punish purchasing. Reduce both equally, I think the balance isn't too off right now.

The taxes that really make a big difference in attracting investment and growth is corporate taxes (don't let the NDP hear that). These also need to be reduced considerably.

Lets not start another GST economics debate.

[Rovik]

Don't count your chickens before they hatch. If the Conservatives win a minority govt., they would need another party to vote with them in a budget vote containing a GST cut.

If the Conservatives wanted an all-party consensus, they should start with a complete cut of the GST on essentials such as children's clothing and books.