Cut Taxes And Clear The Way For Jobs and Growth: Hudak
18 October 2012
QUEEN’S PARK: Ontario will once again lead Canada in job creation, and to achieve this we propose immediate, broad-based and substantial tax cuts in Paths to Prosperity: An Agenda for Growth, PC Leader Tim Hudak said today.
The Premier walks away from his responsibilities, after proroguing the Legislature, and leaves behind a record of blindsiding Ontarians and job creators with new taxes, tax hikes, hidden taxes and cancelled promised tax relief. Today the top tax rate on personal income in Ontario is nearly 50 per cent – the second highest personal income tax rate in Canada, and well above the 42 per cent average of the three dozen nations that make up the OECD.
“What the current government doesn’t understand is that tax cuts create good-paying jobs for hard working Ontarians which means more government revenue,” Hudak said. “These are interrelated, not separate facts. When government has more tax revenue, it’s better positioned to balance budgets, invest in core public services and generate more revenue through an expanding economy,” Hudak added, referring to what economists call the Virtuous Circle of Growth.
Deputy Leader and Job Creation Task Force Chair Christine Elliott said “Ontario is heading toward a $30-billion deficit while 600,000 men and women are unemployed. This should be a call for urgent action to deliver much needed tax relief to ensure businesses are confident they can invest and create new job opportunities for unemployed Ontarians ready to work.
“Liberal cabinet ministers should be weighing into the debate about tax cuts and job creation but all they can think about are their odds of succeeding McGuinty. The Liberals are out of ideas but are more than welcome to try ours,” Elliott added.
Hudak said tax relief means Ontario can once again be home to a strong and growing middle class, employed with good-paying jobs and an ever increasing standard of living. This will allow us to pay for the best quality health care, world-leading education and reliable roads and bridges.
Hudak said “for these reasons, significant tax relief is an integral part of An Agenda for Growth, which presents bold, new and transformative ideas to balance the budget, create private-sector jobs and strengthen the economy.”
The PCs are currently reaching out and seeking the best advice on which tax cut would have the most impact to grow the economy, including: business income tax, personal income tax and the provincial portion of the harmonized sales tax.
To read Paths to Prosperity: An Agenda for Growth and to share your ideas to lower taxes, create jobs and grow the economy, visit: www.ontariopc.com.