(April 26, 2023) — Danielle Smith today signed the United Conservative Party’s No Tax Hike Guarantee: a pledge that a UCP government will not increase personal or business taxes if re-elected in the upcoming provincial election. She also asked all candidates running for the UCP to sign the pledge.
A UCP government would formalize this pledge by expanding the Taxpayer Protection Act to include personal and business income taxes to ensure no future government could increase income taxes without approval from Albertans in a referendum. The Taxpayer Protection Act already prohibits the introduction of a sales tax without approval from Albertans in a referendum.
Under the UCP government, business taxes were decreased, and a result, businesses flourished and corporate income revenues reached record levels. The No Tax Hike Guarantee will ensure Albertans, job creators and investors know that under a UCP Government there will be no increase to income taxes or the introduction of a provincial sales tax…period.
“The best way to support Albertans during difficult economic times is to keep personal and business taxes low,” said Premier Smith. “Higher taxes would only serve to stifle economic growth and reduce job opportunities, making everything less affordable for everyday Albertans.”
The NDP’s high taxes resulted in a record 13 consecutive quarters of people leaving Alberta for other provinces. As one of their 97 hikes to taxes and fees (see attached overview), they increased the business tax by 20 per sent, causing businesses and people to leave Alberta in droves. Since coming to office, the UCP government has reduced the NDP’s high corporate tax rate of 12% down to 8%, resulting in a record $6.4 billion of corporate tax revenue that helps pay for high-quality healthcare, schools, and supports to help Albertans manage inflation. The UCP’s low-taxes have also restored confidence in Alberta and there have been six consecutive quarters of people and businesses coming to Alberta.
“Alberta is without a doubt one of the best places in the world to own and run a business, in no small part to the low tax, business-friendly environment that the UCP government has created,” said Ana Zagorac, owner of Sweet Rhapsody Bakery Cafe and Patisserie. “With a steady and low corporate tax rate that I can bank on, I can plan for the future and make long-term decisions to ensure my business can keep adding to Alberta’s economy, creating jobs, supporting my community, and keeping this province strong for the next generation. This No Tax Hike commitment means we’ll have more to reinvest in our business, improving the customer experience and ultimately creating more jobs.”
“As an Albertan and a small business owner, the UCP should be commended on their initiative to expand the Taxpayer Protection Act to include freezing personal and business taxes,” said Chris Crane, President of Superior Trenching Ltd. “It’s long overdue to finally see a government being responsible and accountable to the people who elected them and act in their best interests. It is the government’s responsibility to operate within its means and provide opportunities for its people and businesses, not increase taxes due to poor management. Albertans and Canadians already face increased tax burdens due to federal incompetence. Having a provincial government that understands the challenges of Albertans and does what it can to help is a refreshing change of pace for government.”
As more businesses have moved to and grown in our low business tax province, Albertans have seen more job opportunities across diverse sectors of the economy. This has meant regular paycheques and higher wages for more Albertans. Keeping personal taxes low means Albertans will keep more of their hard-earned money to support their families and enjoy new opportunities.
“By working together, we can build a stronger, more prosperous Alberta that benefits everyone,” said Premier Smith. “With our No Tax Hike Guarantee, the United Conservative Party is committed to providing stability to Alberta’s job-creators and taxpayers. We hope Rachel Notley and the NDP will make the same pledge. I challenge them to do so now.”
Moving Alberta forward requires innovative solutions while keeping the needs of Albertans at the forefront of all decisions. A re-elected UCP government will ensure that happens.