Timing off for increase

Oak Bay tax increase comes at a time of worldwide deflation and negative interest rates on bonds

At a time when the financial news is humming with stories of worldwide deflation and negative interest rates on bonds, and when the IMF is forcing austerity on governments that have overspent; at a time when the BMO just announced that Canada is entering a recession;  at a time when B.C.’s oil and gas industry has been knocked to its knees, and their staff are facing layoffs;  at a time when financial advisors are recommending that everyone live within their means and get out of debt;  at such a time as this, Oak Bay is planning its largest tax increase ever to cover its largest budget increase ever.

This increase is so poorly timed that it make me wonder what planet our civic leaders live on.  Can we send them back there?

Duane Underwood

 

Oak Bay

 

 

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