His economic advisors may be recommending it but, for now, Nova Scotia Finance Minister Graham Steele will be holding off on a two per cent harmonized sales tax (HST) hike, despite the province’s economic woes.
“If it happens at all, it could be this budget. It could be the following budget. It could be some variation on what the panel has recommended. That’s the purpose of the consultation process, which is to say if we need more revenue,” the minister said.
Nova Scotia, New Brunswick and Newfoundland and Labrador currently have HST agreements with the federal government, and any provincial government that wants to change the tax rate must have approval of at least one of the other provinces. But, Steele is also considering the fact that Nova Scotia could adapt new rules and/or exemptions currently being negotiated in Ontario and British Columbia where the levy takes effect next year.