Notley and the New Democrats launch campaign to end reckless PC tax breaks for large corporations
EDMONTON – New Democrat Leader Rachel Notley launched a campaign to end the PCs reckless and damaging tax cuts for Alberta’s largest and most profitable corporations.
“This PC government squandered our substantial resource revenue during the good years and now they’re telling regular Albertans that they have to pay for the PCs’ mistakes while huge corporations get to keep their tax breaks. It’s just not right,” said Notley.
For years the PCs have been slashing corporate taxes that apply to companies earning over half of million dollars. Since 2001, the tax rate has been reduced from 15.5% to the current 10% rate, the lowest in the country. Across the country rates range from 11% to 16%.
As an example, a 1% difference in the corporate tax rate would add 500 million dollars in new annual revenue for the province. Yet, Jim Prentice and the PCs have said publicly they won’t even consider raising the rate for corporations and instead say that every individual will pay more.
“Alberta has no sales tax, so we don’t need to have the lowest corporate tax rate in Canada to remain competitive. Jim Prentice is not being realistic with his commitment to ignore the issue. He is attacking working and middle-income families with promises of deep cuts to key public services,” said Notley.
“This government refuses to put Alberta families before PC friends and insiders. To say that every Albertan will pay their fair share during this economic situation, and then let the most profitable corporations off the hook by not even considering raising corporate taxes, Jim Prentice and PCs have shown, yet again, that they have the wrong priorities.”
Today, Notley launched an online campaign asking Albertans to support the New Democrats’ call for the PCs to stop the attack on Alberta families and make wealthy corporations pay their fair share: http://act.albertandp.ca/faircorporatetax.