B.C. businesses paying $5B in extra taxes since 2013

[EXCERPT FROM BUSINESS IN VANCOUVER]

The sky isn’t falling, explains BCBC chief economist Ken Peacock. But he says the layering on of various tax policies is a burden for business, and the real cost goes beyond additional billions.

“Not investing, not choosing to update or upgrade facilities, not expanding operations, not opening a new branch or a new facility or a new site, and just adopting a bit more of a way-and-see-what’s-happening-in-other-jurisdictions approach,” Peacock says of the tax burden implications that are difficult to quantify.

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