CONSERVATIVE TAX CUTS TO BIG BANKS REACH $1.4 BILLION, WHILE EVERGREEN LINE REMAINS UNDERFUNDED
September 21st, 2010 - 5:21pm
FOR IMMEDIATE DISTRIBUTION September 21, 2010
Coquitlam - Total corporate tax cuts to the six big banks (BNS, RBC, BMO, CIBC, TD and National Bank) reached $1.4 billion earlier this fall; which happens to be the total cost of the Evergreen Line project.
While the federal government has given the 'Big Six' record tax cuts, the Translink Mayor’s Council is now considering asking individual tax payers to dig a little deeper into their pockets to fund the Evergreen Line’s $574 million shortfall by raising property and gas taxes.
“We should be investing in local transit infrastructure, not giving profitable corporations a ‘free ride’,” said Donnelly. “I am calling on both senior levels of government to dedicate $287 million each to fund this gap and get on with building the line now”.
Donnelly recently launched a campaign calling on the federal and provincial governments to “Fund the Gap – Build the Line”. Supporters can sign the online petition at www.FinDonnelly.ca.
“Investing in the Evergreen Line will stimulate our economy, creating an estimated 9,000 new construction jobs; and by 2020 the line is projected to service over 70,000 commuters, which will help curb urban sprawl, encourage development around stations, and allow existing neighborhoods to maintain their character,” said Donnelly. “That’s the kind of development that builds healthy, sustainable communities”.