Tax banks, restore student grants: Dix

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

Vancouver-Kingsway MLA Adrian Dix

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.

Just Posted

Girl, 10, poisoned by carbon monoxide at Shuswap campsite could soon return home

Lucille Beaurain died and daughter Micaela Walton, 10, was rushed to B.C. Children’s Hospital on May 18

Chase RCMP find drugs, fake money and sawed-off shotgun at traffic stop

Two separate incidents in recent weeks result in drug-related arrests.

Beekeepers from Argentina find sweet success in Shuswap

Honey Onyx Apiary is hoping to increase its operations by 200 hives this year

Unexpected snow on Okanagan Connector, Pennask Summit

As of 6:50 a.m. DriveBC cameras displayed surprise snowfall on highway

Okanagan-Shuswap weather: chance of rain

Environment Canada is calling for a risk of thunderstorms tonight

VIDEO: Acknowledging skeptics, finance minister vows to build Trans Mountain project

Bill Morneau said he recognizes ‘huge amount of anxiety’ in Calgary over future of oil and gas sector

It’s that time again! Property tax deadlines are nearing

Kelowna homeowners need to have their payments in by July 2.

Slain friend motivates rookie football player to make it with hometown B.C. Lions

Jaylen Sandhu, stabbed to death in 2014, a source of inspiration for promising RB Jamel Lyles

North Okanagan-Shuswap MP defends dedication to constituents

LETTER: Mel Arnold says he is open and accessible

Okanagan smash-and-grab nets electric bike

Rock thrown through front door of Southward Medical Supplies, bike grabbed from near door

Home care for B.C.’s elderly is too expensive and falls short: watchdog

Report says seniors must pay $8,800 a year for daily visits under provincial home support program

B.C. ‘struggling’ to meet needs of vulnerable youth in contracted care: auditor

Auditor general says youth in contracted residential services may not be getting support they need

Funds needed for special diving team to find missing Okanagan kayaker

Zygmunt Janiewicz was last seen on Okanagan Lake May 17

In 2019, 21 fires in Vernon to Penticton zone have been human caused, some linked to cigarette butts

Lake Country councillors want stricter regulations, more signage on public smoking

Most Read