MSABC Welcomes Renewal of Tax Incentives and Continuing Infrastructure Investment in Budget 2016
FOR IMMEDIATE RELEASE
Vancouver, B.C. – The Mining Suppliers Association of British Columbia (MSABC) welcomes a fourth consecutive balanced budget that incentivizes investments in the B.C. mining sector, commits to strengthening the competitiveness of our provincial tax system, and invests in provincial infrastructure.
“Mine operators and suppliers have taken significant steps to remain competitive during the ongoing downturn in commodity prices and government is doing its part by extending the mining flow-through share tax credit and the mining exploration tax credit in Budget 2016,” said Darold Thorp, Chair of MSABC. “These measures, along with the recently announced electricity cost deferral program and a commitment to review the competitiveness of the PST, will help ensure B.C. remains competitive with rival mining jurisdictions,” added Thorp.
MSABC members will also benefit from the continued investments in provincial infrastructure highlighted in Budget 2016. “B.C. mining suppliers provide services to multiple industrial sectors and will benefit from opportunities created by infrastructure investments in Budget 2016, such as the $36 million for highways maintenance and the ongoing construction of Site C,” said Thorp. “These investments and related projects will help ensure diversified mining suppliers remain well-positioned to capitalize on new opportunities that emerge with the recovery of commodity prices.”
MSABC comprises suppliers, contractors and consultants to the B.C. mining industry who are committed to promoting the sustainability of this valuable resource sector.
For more information please contact MSABC at 604-681-4321 (Ext: 104) or by email