United Conservatives campaigned on dropping taxes on our job creators from among the highest in the country at 12 per cent to among the lowest in North America at 8 per cent to make Alberta one of the most competitive places to invest and grow a business.
Why? Because in the long term, we can’t properly fund the critical programs that Albertans depend on if we don’t have a thriving economy over the long term. A stronger economy means increased revenues.
We delivered on that promise, but for months the NDP under Rachel Notley have insisted that the cost of the Job Creation Tax Cut is “$4.7 billion.”
Here are the Facts
- University of Calgary Economist has weighed in and called the claim “demonstrably misleading (I’d say false)”
- Not a single penny has been pulled from core spending commitments to pay for the Job Creation Tax Cut
- In fact, health and education spending has increased over the past year
Why the 4.5 billion claim continues is a real puzzle. It is demonstrably misleading (I’d say false). But, I guess, politically convenient. https://t.co/7tvfNqA3we— Trevor Tombe (@trevortombe) October 24, 2019
Before the COVID-19 crisis, the Alberta budget estimated that revenue from business taxes would grow over three years. These numbers will of course have to be adjusted after the economic impact from a global economic crisis.
The fact is, the NDP have a long track record of misleading Albertans on corporate taxes. The NDP jacked up taxes by 20 per cent on job creators just as Alberta faced major economic headwinds.
Less investment in Alberta and less jobs.
The job creation tax cut will benefit Albertans over the long-term. It sends the message that Alberta is open for business while we have among the lowest tax rates in North America.
While this gives Alberta an edge when we need it most, the NDP want to raise taxes on job creators by an eye-popping 50 per cent.
Higher taxes at a time our job creators can least afford it.