13 December 2015

The deficit in perspective: HST version #nlpoli

Some people are upset that the provincial sales tax won’t be going up by two percent.

The current harmonized sales tax rate is 13%.

If you wanted to – if it was even possible to – raise enough money to balance the books by hiking the sales tax – the new rate would have to be 41%.

That’s 14 times higher than the cancelled increase.

It’s a bit more than triple the current HST rate.