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

Agassiz Farms Cycle Tour returns for 12th year

Offers sights, smells, sounds and tastes of Fraser Valley farming and agriculture

One in custody after dramatic Abbotsford vehicle theft ends with rollover in Chilliwack

Prolific offender Michael Joseph Hasell facing numerous charges

Letter: Citizens should hold incumbents accountable

As a resident of the village of Harrison Hot Springs, I am… Continue reading

A look at the latest from Agassiz Harrison

Bite-size news from your community

Stolen sunshade puts damper on Lower Mainland woman’s pet-relief effort

Broken umbrella taken from White Rock lawn ‘within 10 minutes’

Wildfires erupt in B.C. Okanagan forcing evacuation orders and a highway closure

Check out a list of up-to-date information on blazes happening within the Kamloops Wildfire Centre.

‘Amazing Race Canada’ competitors face B.C. challenge

They drove Corvettes, mastered falconry basics, and ate blueberry pie in the Cowichan Valley

Teen killed by train remembered for his love

Friends and family share stories of young Crescent Beach train victim

Grizzly bear jumps in river, chases B.C. kayaker

The bear got a bit too close for comfort along the Elaho River near Squamish

Parks Canada looks to shine light on cloudy future for historic sites

A plan is in place to produce 10-year plans designed to turn around sagging attendance figures

Island man convicted of 1999 sex assault at Fraser Valley music festival

James Allen Redden, formerly of Nanaimo, was found guilty of three charges

B.C. poet shines a bright light on struggle with homelessness

Book launch for John La Greca’s Homeless Memorial is at Vernon’s Gallery Vertigo July 21.

Ontario police say attack on Muslim man was motivated by hate

Two men, aged 27 and 19, have been charged with assault in the incident

Most Read