September 7, 2017
For Immediate Release
Premier and Ministers Silent on Changes to Federal Liberals’ Business Tax Changes
Small Business Owners Fear It Will Hurt NL’s Small Businesses and Economy
Keith Hutchings, Finance Critic for the Official Opposition, is asking, “Why are Premier Ball and his Finance and Business Ministers silent on a federal Liberal business tax change that will hurt Newfoundland and Labrador’s small business core, cost jobs and further undermine our fragile economy?”
“In the short time that the federal Liberals have provided for consultation on their proposed tax plan, there has been a huge outcry across the country from people who recognize the consequences of an apparent tax grab, yet the Ball Liberals have said nothing about the impact in our province,” said Hutchings. “Has the Finance department assessed the possible impacts of these changes to business owners in this province – the retail sector, service sector, tourism, farming and or fishing industries as examples? Has the provincial government made any representation to Ottawa about the proposed federal tax changes and their impact here? Have they fully assessed the impacts? Why are they not talking about what it will mean for the many Newfoundlanders and Labradorians whose small businesses are creating jobs and economic opportunities in our communities, not only in urban centres, but in small communities throughout the province?
“Small businesses are the lifeblood of our economy. Without them, countless jobs would disappear and our economy would grind to a standstill. These entrepreneurs take huge personal risks to start these enterprises and should not be penalized for re-investing to strengthen their enterprises, for engaging their family members as so many do to keep their businesses running, or for structuring their businesses so they can afford to retire when the time comes. Reckless tax changes will not only hurt our entrepreneurs, but discourage people from starting businesses in the first place. And that will cost many local jobs and devastate our economy,” said Hutchings.
Hutchings said, “Newfoundland and Labrador’s business sector is overwhelmingly composed of small and medium size enterprises, and they are wondering why Premier Ball and the Liberal government are not out advocating for them and the local economies they sustain. With all the provincial tax grabs, business failures and bankruptcies we’ve seen in this province over the past two years, our economy cannot afford another Liberal job-killing tax grab.”
Heather MacLean, Director of Operations and Communications
Office of the Official Opposition
(709) 729 6105, email@example.com