Yorkton Chamber of Commerce President Brent Murdock does not believe that the provincial budget is the worst one that Saskatchewan has seen, but the business community in the city will see a negative impact thanks to the changes made.
The biggest issue is the PST, Murdock says, especially when it comes to the wider range of goods and services that the tax is going to be charged on. He points to PST being applied in the construction industry as a big negative to the city, as well as it being applied to children’s clothing and restaurant meals.
“That’s going to affect business. It’s a higher cost with really no gain for the business itself... We’re trying to encourage business and this doesn’t help.”
Area businesses also disappointed in how the changes to the PST were implemented, Murdock says, because it was a challenge for everyone to get their prices changed, their cash register programming altered and their businesses ready for the new rules within a day and a half.
“It’s a lot of work to do in a very short period of time.”
Another negative will be the reduction in the fuel tax credit for the agriculture industry, which will mean less money for area farmers. He does view it as a good thing that input costs are still not taxed, though the fuel increases will still hurt the farm.
It’s not all negative for Murdock. He believes the reduction in income tax is a good change, and he’s encouraged by the implementation of a new tax incentives for companies which develop new patents.
“Hopefully that will help some new, innovative startup companies get going.”
He also remains positive about Saskatchewan as a whole, and does not believe that the budget changes that.
“We’re still the best place to do business and start business. We’re the best place to live and work.”
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