Sask. Party leadership hopeful vows to roll back PST on insurance
Meadow Lake MLA Jeremy Harrison initially supported PST policy in March budget
Meadow Lake MLA Jeremy Harrison says he will roll back the recent addition of a provincial sales tax on insurance premiums if he wins the Saskatchewan Party leadership.
Harrison, who originally supported the tax, announced in a news release on Tuesday he would reverse the government's decision to apply PST to insurance. The change was part of the March 22 provincial budget.
"Many individuals use life insurance as a savings mechanism, while others use it as a way to transition their small business from one generation to the next," said Harrison.
Harrison added that the six per cent PST rate, which applies to all insurance premiums in the province, is also affecting farmers.
"Many producers expect to see thousands, if not tens of thousands, in increased insurance costs for crop insurance, for instance."
Harrison said he reconsidered his initial support for the PST policy after feedback from the public.
Harrison is running for the Saskatchewan Party leadership after outgoing Premier Brad Wall announced he is resigning.