CHRISTIAN PROVENZANO LIBERAL CANDIDATE SAULT STE. MARIE & AREA
**************************** Corporate tax cuts can afford to wait
SAULT STE. MARIE - Christian Provenzano, Liberal candidate for Sault Ste. Marie, released the following remarks today regarding Stephen Harper’s plan to issue $6 billion in corporate tax cuts:
Says Provenzano: “Corporations do a lot for this country but it bears remembering that our country does a lot for them in return. Corporations rely on our infrastructure, transportation networks and regulatory agencies. Our educational system provides them with a skilled labour market to draw from and our health care system protects the well-being of their employees. Our tax structure needs to reflect this reality.”
Provenzano notes that Canada’s corporate tax rate is already very competitive - one of the lowest in the G8.
Canadian corporations pay 25 percent less tax then they would in the United States.
There is no clear evidence that Stephen Harper’s plan to cut corporate taxes would help Canada’s competitiveness beyond what is enjoyed today.
What is clear is that the costs of these cuts will be passed on to regular Canadians.
Says Provenzano: “It’s a simple equation: when the federal government has less money, provincial transfers get cut. When the provinces have less money, municipal transfers get cut. When municipalities have less money, property taxes go up and you see the kind of frustration that has been evident in Sault Ste. Marie over the last week. Someone always has to pay and it is almost always the average taxpayer.”
This is not to say that corporate taxes have to remain at 2010 levels forever.
Provenzano believes that when the federal deficit is eliminated and when our debt begins decreasing, then the issue of corporate tax rates should be revisited.
Says Provenzano: “But not now - not after I’ve talked to so many worried people in the Sault and area over these past few weeks. Parents asking: ‘Will I be able to afford university for my children?’ Seniors asking: ‘How will I keep this house with just my pension?’ Young people asking: ‘Will I be able to find a job when I finish school?’
“Canada is a prosperous nation, blessed with abundant resources and a hard-working people. We can address any issue that we choose. Right now, our priorities need to be supporting our seniors, strengthening our health care system, helping our families and creating opportunities for our youth. This is what I have heard from you." “It’s always going to be a balancing act, between the needs of corporate Canada and the social needs of our country. Over the past several years the pendulum has swung a long way in favour of the corporations. Now it’s time for it to swing back. Now it’s time to put the needs of our families, seniors and youth first,” concludes Provenzano.