Budget 2004 -- Government of British Columbia.
   

Goals, Objectives, Strategies and Results — Continued

Goal 2: Creating a tax and regulatory climate that stimulates economic growth.

Objective Strategy Responsible Core Business Area
Finance and Econ Performance. Financial Governance. Treasury. Fin and Corp Sector Services. PSEC. Risk Management. Executive and Support.
Establish a tax environment that encourages economic growth

• Review the tax system on an ongoing basis and consider changes to maintain and improve competitiveness

Check Mark.            
Support business development and investment

• Streamline and update the legislative and policy frameworks to reduce regulatory requirements and enable the electronic delivery of services

      Check Mark.      

 

Objective Performance Measure Base 2003/04 Target
2004/05 2005/06 2006/07
Establish a tax environment that encourages economic growth

• Provincial ranking of personal income tax rates for the bottom two tax brackets

Lowest Lowest Lowest Lowest

• Provincial ranking of the top personal marginal tax rate

 In the Lowest 3 In the Lowest 3 In the Lowest 3 In the Lowest 3
Support business development and investment

• Number of regulatory requirements (2004/05 target is a 1/3 reduction from 2001/02 baseline of 41,382)1

 31,000
(-25%)		 27,700
(-33%)		 27,700
(-33%)		 27,700
(-33%)

• Per cent annual growth in business registrations

 5% (51,069) 5% (53,622) 5% (56,303) 5% (59,119)

• Percentage of company incorporations and registrations filed electronically

 85% 90% 95%2 98%
1   The regulatory baseline has been adjusted to reflect 1,075 additional regulatory requirements assumed from the Pension Benefits Standards Act and Public Sector Pension Plans Act.
2   The target for company incorporations and registrations filed electronically has been reduced by 5 percentage points in 2005/06. This reduction is due to the fact that some low-volume filings are either complex or require paper documentation, such that the cost of automation would exceed the cost of manual processing.

 

  
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