The Conservative Party of Canada firmly believes that small businesses are the heart of our economy. They employ millions of Canadians, contribute to our economy and allow our communities to flourish. In the last session of Parliament the Liberals abandoned their promise of cutting the small business tax rate and also canceled the small business hiring tax break, which would have created millions of jobs for Canadians from coast, to coast, to coast.

By neglecting and abandoning their promises, they will be cutting and costing industry $2.2 billion, which will negatively impact our economy in the months and years to come. Simply put, instead of encouraging economic job growth and new hiring, the Liberals have increased payroll taxes and EI premiums for small businesses that will actually cost jobs. During our time in power, the Conservative government created 1.2 million net new jobs, even in the worst economic conditions since the great depression, in addition to reducing taxes 120 times, leaving more money in the pockets of Canadian families, while building our economy.

Under the Liberal government’s budget and its proposed tax increases, the top tax bracket for over half of our provinces will be more than 50% of an individual’s income.  These tax increases will punish some of the most productive workers in our society. It is clear that small business owners have been abandoned by the Liberal government. In fact, the Canadian Federation of Independent Businesses expressed great concern when it reacted to their budget. It was the first time in 40 years that the government did not seek budget consultations with CFIB.

Since the release of the 2016 federal budget, it’s been clear- the Liberals are borrowing too much money to pay for their spending promises. They have chosen to turn their backs on job creators and small businesses.  The Liberal government fails to understand that borrowed money needs to be paid back, and instead of taking that responsibility upon themselves, they are placing it on our children and grandchildren.

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