"HST will pump up our spending, but not enough to blow the budget"

http://www.vancouversun.com/will+pump+spending+enough+blow+budget/1982330/story.html

Summary
Despite the strong disapproval of the HST, the impact is not as harsh as some critics may argue; it really "depends" on consumers' spending.  The HST influences certain goods and services, such as haircuts or restaurant bills, to rise in price by including the PST.  However, businesses and government will do less paperwork.  With the input cost reduced, prices of products are lowered.  For Canadians living below the poverty line, the HST will not concern them, since food costs remains the same and they are eligible for the HST tax credit.  Moreover, the government recently announced a significant increase in income tax deductions.  Overall, the savings will mostly offset the cost of the HST.

Connections
This article on HST relates to Chapter six in the accounting textbook as it is the province's newly introduced tax.  So far, we have been familiar with the GST (5%) and the PST (7%).  With the HST effective as of July 1st next year, businesses will no longer have to prepare two packages of paperwork: PST documents for the provincial government and GST documents for the federal government.  It will all be combined, which requires less paperwork.  New accounts, such as HST Payable and Recoverable, will be introduced in every business's book in place of the GST and PST accounts.  Thus, the HST will contribute by simplifying the procedures of many businesses. 

Reflection
With the economic downturn nearly over, the HST is the most suitable source for the government to generate revenue for the province's billion-dollar deficit.   It is better than increasing property or income tax.   I am not implying that I wholeheartedly agree with the HST, but this option is the least worst.   For consumers in general,  the HST does not have any extreme differences.  Merchandises have always been charged with two taxes. However, restaurant owners will be deeply affected by the drop in business, possibly forcing a few to close.  Meanwhile, supermarkets will prosper.  Despite the positive and negative influence over certain business sectors, I hope the government will not propose another tax that has worse terms than the HST.