The Canadian Taxpayers Federation is applauding New Brunswick Premier Blaine Higgs’ commitment to cut the provincial portion of the HST by two percentage points over the next two years.

“This announcement is tremendous news for hardworking families all across New Brunswick,” said CTF Interim Atlantic Director Jay Goldberg. “This HST cut will save families big time nearly everywhere they shop and save the average family nearly $1,000 a year once this tax cut is fully phased in.”

The Canadian Taxpayers Federation specifically advocated for a two-point HST cut in its pre-budget submission.

Higgs announced today that a re-elected Progressive Conservative government will cut the provincial portion of the HST from 10 per cent to eight per cent over the next two years. One percentage point reduction will come in 2025 and a second in 2026.

This tax cut will also reverse the two-percentage point HST increase imposed on New Brunswickers a decade ago.

“Whether families are struggling to afford a summer vacation, replace that old appliance or looking to buy a new car, this HST cut will have a huge impact on the lives of New Brunswickers,” said Goldberg. “Once the tax cut is phased in, it will mean New Brunswick will have the lowest sales tax burden in all of Atlantic Canada.

“Now that Higgs has presented an ambitious tax cut plan, the province’s other party leaders have a chance to lay out clear plans to reduce the tax burden facing New Brunswickers ahead of this fall’s election. In fact, they should all commit to reducing the HST.”