Vancouver – The Mining Association of British Columbia (MABC) welcomes Budget 2010’s focus on the implementation of the Harmonized Sales Tax (HST). 

“The implementation of the HST is one of the most important and innovative tax reforms the government could bring forward.  The HST will improve BC’s tax competitiveness, attract new investment, improve productivity and create jobs,” stated Pierre Gratton, President and CE0 of the MABC. “To proceed with implementation, despite some public concern, is the right thing to do for British Columbia.”

Today’s budget demonstrates continued fiscal prudence and a commitment to return to balanced budgets by 2013/14, achieved through responsible cost cutting while maintaining key core service levels.  Mr. Gratton states that, “while budget reductions in the Ministry of Energy, Mines and Petroleum Resources are of concern, the MABC is particularly pleased to see that funding levels for the BC Environmental Assessment Office remain intact to ensure timely, effective environmental review of major projects.”  He elaborates that, “this follows on the commitment made in February’s throne speech to work with Ottawa on a single process for environmental assessment.” 

Currently over $3 billion in resource projects have been approved by the BC environmental assessment process but sit waiting for Ottawa to complete the federal process.  This holdup delays the creation of thousands of badly needed jobs in such rural communities as Williams Lake, Fort St. James and Mackenzie.

Finally, the MABC welcomes Budget 2010’s renewal of the Mining Flow-Through Share Tax Credit for another three years, providing the mineral exploration sector with certainty as the sector emerges from the economic downturn.

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For more information, contact:  

Pierre Gratton   1-778-828-5064 or pgratton@mining.bc.ca 
Ben Chalmers   1-778-828-2607 or bchalmers@mining.bc.ca