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

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

Gord Portman getting ready for the Father’s Day dunk tank fundraiser for Discovery House. So far Portman has raised $3,000. (Facebook)
Portman takes plunge for Penticton recovery house that helped save his life

Gord Portman said Discovery House and Pathways have been everything in his 1 year sobriety

(File photo)
Supreme Court Justice rules Bay has to pay Penticton’s Cherry Lane mall

The ruling found that there had been no unavoidable delay preventing the Bay from paying their rent

Summerland cidery Millionaires' Row is hosting a Father's Day car and art show. (Facebook)
Vintage cars, art and cider for Father’s Day

Summerland’s Millionaires’ Row Cider Co. is hosting the car and art show

This undated file photo provided by Ernie Carswell & Partners shows the home featured in the opening and closing scenes of The Brady Bunch in Los Angeles. Do you know the occupation of Mike Brady, the father in this show about a blended family? (Anthony Barcelo/Ernie Carswell & Partners via AP, File)
QUIZ: A celebration of dad on Father’s Day

How much do you know about famous fathers?

James Miller, the managing editor at the Penticton Herald, has been voted in for Jake Kimberley’s vacated council seat. (Submitted)
James Miller elected as Penticton city councillor

Penticton also voted yes to allowing up to 25 years for a Skaha Marina contract

Marco Mendicino, Minister of Immigration, Refugees and Citizenship during a press conference in Ottawa on Thursday, May 13, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Canada to welcome 45,000 refugees this year, says immigration minister

Canada plans to increase persons admitted from 23,500 to 45,000 and expedite permanent residency applications

Barbara Violo, pharmacist and owner of The Junction Chemist Pharmacy, draws up a dose behind vials of both Pfizer-BioNTech and Oxford-AstraZeneca COVID-19 vaccines on the counter, in Toronto, Friday, June 18, 2021. An independent vaccine tracker website founded by a University of Saskatchewan student says just over 20 per cent of eligible Canadians — those 12 years old and above — are now fully vaccinated. THE CANADIAN PRESS/Nathan Denette
At least 20% of eligible Canadians fully vaccinated, 75% with one dose: data

Earlier projections for reopening at this milestone didn’t include Delta variant

Emily Steele holds up a collage of her son, 16-year-old Elijah-Iain Beauregard who was stabbed and killed in June 2019, outside of Kelowna Law Courts on June 18. (Aaron Hemens/Capital News)
Kelowna woman who fatally stabbed Eli Beauregard facing up to 1.5 years of jail time

Her jail sentence would be followed by an additional one to 1.5 years of supervision

Cpl. Scott MacLeod and Police Service Dog Jago. Jago was killed in the line of duty on Thursday, June 17. (RCMP)
Abbotsford police, RCMP grieve 4-year-old service dog killed in line of duty

Jago killed by armed suspect during ‘high-risk’ incident in Alberta

The George Road wildfire near Lytton, B.C., has grown to 250 hectares. (BC Wildfire Service)
B.C. drone sighting halts helicopters fighting 250 hectares of wildfire

‘If a drone collides with firefighting aircraft the consequences could be deadly,’ says BC Wildfire Service

A dose of the Pfizer-BioNTech COVID-19 vaccine is pictured at a vaccination site in Vancouver Thursday, March 11, 2021. THE CANADIAN PRESS/Jonathan Hayward
NACI advice to mix vaccines gets varied reaction from AstraZeneca double-dosers

NACI recommends an mRNA vaccine for all Canadians receiving a second dose of a COVID-19 vaccine

A aerial view shows the debris going into Quesnel Lake caused by a tailings pond breach near the town of Likely, B.C., Tuesday, Aug. 5, 2014. THE CANADIAN PRESS/Jonathan Hayward
Updated tailings code after Mount Polley an improvement: B.C. mines auditor

British Columbia’s chief auditor of mines has found changes to the province’s requirements for tailings storage facilities

Starting in 2022, the Columbia Shuswap Regional District is extending dog control to the entire Electoral Area D. (Stock photo)
Dog control bylaw passes in Shuswap area despite ‘threatening’ emails

CSRD board extending full dog control in Electoral Area D starting next year

A North Vancouver man was arrested Friday and three police officers were injured after a 10-person broke out at English Bay on June 19, 2021. (Youtube/Screen grab)
Man arrested, 3 police injured during 10-person brawl at Vancouver beach

The arrest was captured on video by bystanders, many of whom heckled the officers as they struggled with the handcuffed man

Most Read