HST fuelling economic growth

Link
http://www.thestar.com/news/canada/article/920012--hst-fuelling-economic-growth-duncan-says

By: Tana Piotrowski

Summary

·         How the HST implementation has been one the main pushes that helped get us out of recession

·         Business spending on machinery and equipment has increased by more than 10 per cent due to the tax reforms

·         Regained 96 per cent of jobs lost during the recession and that last year there were 119,700 net new jobs created

Impact on business

This article deals with the HST tax and how it has affected our society since it has been implemented.  The journalist who wrote the article has stated that because of the combined tax it has made our society better by pushing us out of recession.  This is good for businesses because it means we have made more jobs which is a push for more business.

 To better understand this look at economics.  Since the tax introduction we have been making our way to a better economy.  This means that more people are working and which leads to more people spending money.  This would cause more businesses to have more job availability, because demand is going up, which requires more people to fill those job availabilities.  Overall, the HST has caused a good impact on business thus far.  Although we are still on the border line for our unemployment rate the article states that the HST tax will continue to help make the economy better as long as all other underlying factors remain the same.