News

Tax banks, restore student grants: Dix

Vancouver-Kingsway MLA Adrian Dix - Black Press
Vancouver-Kingsway MLA Adrian Dix
— image credit: Black Press

VICTORIA – NDP leadership candidate Adrian Dix wants to restore a minimum tax on financial institutions in B.C. and use part of the proceeds to restore a grant program for post-secondary students.

Dix also wants to eliminate interest on student loans, which he estimates would cost $30 million, in addition to $18 million annually for grants that used to form part of the financial aid offered to qualifying students.

"It's become dramatically more expensive for students under this government," Dix said Tuesday.

"Students on average are leaving their post-secondary career with an average $27,000 debt load."

Dix proposes to pay for the program by reinstating the corporate capital tax on banks and financial institutions, eliminated by the B.C. Liberal government last year. He would set it at the 2008 rate, which he said would bring in $100 million annually.

"There was a phase-out announced by [former finance minister] Carole Taylor in 2008," Dix said.

"The intent of the government at the time was to bring in a new minimum tax on financial institutions, but even that decision was unacceptable to the government once Carole Taylor left, so there is no minimum tax on banks or financial institutions at the moment."

Dix said the B.C. government and Canadian Banking Association promised the tax cut would result in more employment here.

"In fact, banking jobs have been reduced in British Columbia since that's happened, and banking jobs have increased in Ontario," he said.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Port Moody cop honoured for anti-gang work
 
Grants still available for science, technology projects in School District 43
 
Wright heard from Port Coquitlam voters. But just maybe...
Two police officers hospitalized after being rammed by stolen truck in Surrey
 
Two survive fiery Surrey crash
 
Food drives to boost Cloverdale Christmas hamper appeal
Council orders Richmond property owner to clean up
 
Little Campbell trestle replacement on track
 
SLIDESHOW: Step inside the Cloverdale Mall

Community Events, November 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Nov 20 edition online now. Browse the archives.