Finance
VICTORIA - Standard & Poor's Rating Services has confirmed the Province's AAA credit rating will continue after British Columbians voted to bring back the PST plus GST tax system, Finance Minister Kevin Falcon announced.
Standard & Poor's noted the Province has the solid revenue and expenditure flexibility necessary to meet its deficit targets and a moderate tax-supported debt burden.
They added that the challenges facing British Columbia are the need to address the loss in revenue, initial administrative costs of transitioning back to a PST plus GST tax system and the likelihood the Province will be required to repay $1.6 billion in HST transitional funding provided by the federal government.
Contact:
Matt Gordon
Communications Director
Ministry of Finance
250 896-4923
