Sask. Party leadership hopeful vows to roll back PST on insurance

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 theMarch 22 provincial budget.

• Taxes now being applied to Sask. insurance premiums

"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."

Harrisonsaid 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.