After a slump in polls, Liberals to cut small business tax rate to 9%

Posted October 16, 2017 1:57 pm by Comments

After a slump in polls, Liberals to cut small business tax rate to 9%

After a rough month the Liberal Party is finally listening to small business owners, and have now decided to lower the small business tax rate to 9%.

The recent change in plans has critics chirping.

Trudeau is also being accused of flip flopping.

Ottawa will announce plans today to cut the small business tax rate from 10.5 per cent to nine per cent on Monday, CBC News has confirmed, as it attempts to quell a backlash to proposed tax reforms that have stung the Trudeau government.

The new plan will be presented at a national caucus meeting at 8 a.m. ET.

Finance Minister Bill Morneau’s move to reduce the tax rate paid by small businesses is aimed at deflecting criticism of proposed tax reforms that have angered small business owners, who said the changes would hurt the same middle-class Canadians the government is purporting to help. Some premiers and Liberal backbenchers also objected to the reforms.

Andrew Scheer took to social to say “Reminder: The Trudeau Liberals have proven time and time again they are no friends of local business.”

But there are also some who are praising the move, Dan Kelly for one is pleased to hear the government is reinstating its promise to reduce the small biz rate to 9%.

While I feel most Canadians are happy with lowering taxes on small business, its also worth noting that they broke a campaign promise to begin with and Liberals are still seen as the party of high taxes.

There’s also recent poll number to suggest Liberals are no longer in the lead, as Conservatives have caught up in approval numbers and what better way to boost your popularity than lowering taxes.


Leave a Reply

Your email address will not be published. Required fields are marked *