Just about a year ago, the BC Liberal government released a report on the economic benefits of the HST. The report was authored by well known
stooge tax expert Jack Mintz.
The headline on the government press release was modest: HST REPORT: GIANT LEAP FORWARD FOR INVESTMENT, JOBS
And here’s Mintz’s lead: “Sales tax harmonization and corporate tax cuts will increase capital investment by $14.4 billion and result in a net increase of 141,000 jobs by the end of the coming decade according to a report released today by economist and tax expert Jack Mintz, announced Finance Minister Colin Hansen”.
The only problem: The Mintz report was a lie, an gigantic Orwellian piece of government propaganda. The numbers weren’t even remotely true.
Here’s what the new HST Panel report says about economic growth with the HST: BC’s economy will grow by an additional $2.4 billion by 2020 and create an extra 24,000 jobs. That’s seven times less than the Mintz estimates.
And the Panel adds “maybe”. Because they don’t really know. As the panel says in this section of the report: “economic forecasting – especially over 10 years – is an imprecise exercise.”
Yesterday, just like Gordon Campbell and Colin Hansen before him, Finance Minister Kevin Falcon refused to apologize for the lies in the Mintz Report. Plus ca change, plus c’est la meme chose.
Here’s what you need to know about the new “downgrade”.
The Panel says they commissioned its own study to come up with that estimate. But they didn’t release the study so citizens can’t check its methodology or economic assumptions.
Why is this important? Because the Campbell/Clark government and its allies has lied from the beginning when it comes to the HST.
So taking the Campbell/Clark government at face value now is the new definition of sucker.