A Mayors’ Council press release
A “Yes” to Transit vote would cost average households $125 a year
FOR IMMEDIATE RELEASE February 6, 2015
Vancouver, BC – The “No” side’s baseless claims, mythical math and random calculations demonstrates they are not producing facts to back their arguments. In this latest claim, they have no idea how households really spend their money and how the PST is applied to goods and services.
The Mayors’ 10-year plan to improve transit and transportation as the region grows by one million more people will cost the average household $125 a year. That’s about 35 cents a day. The mayors’ calculation considers how much money households make and how much they spend on PST-eligible items. They also looked at how much of the tax would be paid by households, businesses and visitors, to come up with a realistic cost for an average household.
In fact, households making less than $100,000 per year – about 70% of Metro Vancouver’s households – will pay between $53 and $116 per year for more buses, better roads and more transit options.
||“No” to Transit
|· Classified six income categories.
· Used Statistics Canada Survey of Household Spending by income to:
- generate a reliable picture of PST-eligible spending by income category
- understand the impact of a 0.5% increase in sales tax by category
||Average annual cost of 0.5% increase in sales tax
||% of Households
Determined the annual cost per average household
- Multiply annual cost per average household by the % of households in that income category
|Divided $250 million (total funding required) by 967,948 (total number of households).
|= $125 per household
||= $258 per household
The “No” to transit side wants us to do nothing. This will cost the region untold millions in economic costs as traffic gets worse, and mean you are stuck in traffic and on transit longer.
The Mayors’ Council will continue to share information and updates on activities at www.mayorscouncil.ca.