This won’t come as much of a shock, but a new poll has reveal Manitoba residents and small business are in support of the provincial government lowering the PST.
The Canadian Federation of Independent Business says a public opinion poll that ran from March 15-25, shows that 80% of small business owners and 67% of the general public agreed with the Pallister government decision to reduced the PST from 8% to 7% come July 1.
“Both the current government and opposition agree that increasing the PST in 2013 was a mistake. The only remaining question is: when is the right time to undo this bad policy?” said Jonathan Alward, CFIB’s Director of Provincial Affairs for Manitoba, in a release. “Clearly, Manitoba’s residents and small business owners believe now is the time to reduce the PST.”
The CFIB said PST reduction will improve competitiveness for small business owners who are facing significant cost increases through changes to the federal small business tax, continued Canadian Pension Plan premium hikes, the federal carbon tax and Manitoba Hydro rate hikes.
Those businesses surveyed agreed that the PST reduction would decrease their input costs (76%) and increase their customers’ buying power (83%).
- 83% of Manitoba small business owners agreed that this tax relief would improve Manitoba’s competitiveness;
- 80% agreed that the PST decrease will have a positive impact on the province’s economy;
- 73% agreed that the PST decrease will have a positive impact on their business
- 75% agreed that the PST decrease will help offset other recent cost increases for their business; and
- 53% agreed that it will allow their business to make more investments in equipment and technology.
“CFIB is very pleased to see the PST drop on July 1, 2019 – ahead of schedule from what many expected. This tax relief is a much-needed start as we’ve seen Manitoba’s small business owners trying to cope with a barrage of cost increases,” Alward said.