Thursday, November 18, 2010

Gordon Campbell has a parting gift for BC

He's cancelling the income tax cuts:

Premier Gordon Campbell backed away Wednesday from the major tax cut he announced on prime-time television last month, saying it would place too many restraints on his successor as premier.

“I felt it was important, when I decided to step aside as leader, that there be an unfettered opportunity for the new potential leaders to move ahead and make their own decisions about what they wanted to do,” Campbell said.

“I didn’t think it was right for me to lock in — or for this executive council to lock in — the new leader and the potential next executive council in making that decision.”

The planned tax cut had been scheduled to take effect Jan. 1, 2011 and would have meant a 15-per-cent reduction in personal income tax rates for the first $72,000 of an individual’s income.

From the Vancouver Sun. Now for what it's worth, I actually agree with this decision; the last thing the province needs now is to lose revenue that's desperately needed for social programs and the like. However, this isn't likely to do his party any good... not that I'm complaining of course.

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