Post by dereksimon on Nov 28, 2013 22:40:07 GMT -4
Fiscal sustainability
Our current policies
The current policies of the Green Party of New Brunswick Policy Manual are based on the Charter of Principles which we adopted at the founding convention of the NBGP in November 2008. The policies which flow from all six principles will have fiscal implications in terms of modifying the types of public sector revenues we collect as well as how the public sector spends public resources. The following discussion will not be discussing particular programs but rather focus on policies which affect overall provincial government revenues, expenditures and debt (the traditional scope of fiscal government issues). Consequently, the following policy proposals for discussion fall under Principle 1: Living Within Our Means. There are several such current NBGP policies including modifying the sales tax for throw-aways, fossil fuel levy (carbon tax), a resource depletion tax, treating human and natural capital expenditures as investments, a junk food tax, a guaranteed annual income, restoring progressivity to the income tax, and a commitment to equal access to health, education, quality housing, meaningful livelihoods, and cultural enrichment.
Principle 1: Living Within Our Means
Possible new policy measures for discussion
: increase the HST from 13 to 15 percent ( NS did this when the federal government reduced their portion by 2 percent). This would raise about 250 million in NB and cut the provincial deficit in half.
: Add a new higher tax rate for incomes over 120,000 per year ( or close). This would shift resources from savings leaving the province to jobs for public provision
: Introduce a higher property tax rate for large box stores
: raise the corporate income tax to US levels
: raise the deposit on beverage containers which has not been changed in twenty years ( currently about 160 million beverage containers in NB yearly)
: work with the other Maritime provinces to lobby the federal government to adjust the federal per capita monetary health transfer to a transfer adjusted for age of the population. This would have a significant positive impact for provinces like NB where our health care system looks after the needs of a higher proportion of older citizens with special health care needs.
: increase the royalty rates for all non-renewable resources in the province based on the principle of taxing 100% of the economic rent (excess profits) inherent in the resource
: introduce a Sovereign Wealth Fund where all non-renewable royalties would be deposited, with NB government using 5 % in any one year. This would be similar to Norway’s sovereign fund.
Our current policies
The current policies of the Green Party of New Brunswick Policy Manual are based on the Charter of Principles which we adopted at the founding convention of the NBGP in November 2008. The policies which flow from all six principles will have fiscal implications in terms of modifying the types of public sector revenues we collect as well as how the public sector spends public resources. The following discussion will not be discussing particular programs but rather focus on policies which affect overall provincial government revenues, expenditures and debt (the traditional scope of fiscal government issues). Consequently, the following policy proposals for discussion fall under Principle 1: Living Within Our Means. There are several such current NBGP policies including modifying the sales tax for throw-aways, fossil fuel levy (carbon tax), a resource depletion tax, treating human and natural capital expenditures as investments, a junk food tax, a guaranteed annual income, restoring progressivity to the income tax, and a commitment to equal access to health, education, quality housing, meaningful livelihoods, and cultural enrichment.
Principle 1: Living Within Our Means
Possible new policy measures for discussion
: increase the HST from 13 to 15 percent ( NS did this when the federal government reduced their portion by 2 percent). This would raise about 250 million in NB and cut the provincial deficit in half.
: Add a new higher tax rate for incomes over 120,000 per year ( or close). This would shift resources from savings leaving the province to jobs for public provision
: Introduce a higher property tax rate for large box stores
: raise the corporate income tax to US levels
: raise the deposit on beverage containers which has not been changed in twenty years ( currently about 160 million beverage containers in NB yearly)
: work with the other Maritime provinces to lobby the federal government to adjust the federal per capita monetary health transfer to a transfer adjusted for age of the population. This would have a significant positive impact for provinces like NB where our health care system looks after the needs of a higher proportion of older citizens with special health care needs.
: increase the royalty rates for all non-renewable resources in the province based on the principle of taxing 100% of the economic rent (excess profits) inherent in the resource
: introduce a Sovereign Wealth Fund where all non-renewable royalties would be deposited, with NB government using 5 % in any one year. This would be similar to Norway’s sovereign fund.