British Columbia's controversial harmonized sales tax will be good for business, the province's new energy minister said Monday.
"A lot of our citizens are not sure that they like it. In fact, they're pretty sure that they don't like it," Bill Bennett told a Calgary investment conference in his first speech since assuming his new post Friday.
"But I think, frankly, once people begin to understand what it means, that they'll like it a lot better."
The HST will help companies in the energy, forestry, construction and mining industries save money, he said.
"HST will increase competitiveness in the province by reducing operating and capital costs for businesses operating in the province," he said.
The HST will roll the federal goods and services tax and provincial sales tax into one 12 per cent levy in B.C. The changes come into effect July 1.
Companies will be able to get much of their tax dollars back from the government, Bennett added.
Bennett's predecessor, Blair Lekstrom, stepped down Friday amid a major outcry from his constituents over the HST.
