HST adds $5 million to B.C. Ferries expenses

From B.C. Ferries latest financial report:

"On July 1, 2010, the harmonized sales tax (HST) became effective, combining the existing 7% provincial sales tax with the 5% federal goods and services tax (GST) into a single tax of 12%. We expect this tax to add approximately $5 to $6 million annually to the cost of our operations. The HST will also increase the price to our customers for our food and certain retail offerings. Our vehicle and passenger tariffs which were exempt from GST will be exempt from HST."

Which means the HST will also result in higher ferry fares,