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Wildrose to put forward amendment to shrink small business tax rate

EDMONTON, AB (June 24, 2015): In light of several policies that will hurt the economy, businesses and families, Wildrose will put forward an amendment to Bill 2 to lower the small business tax rate from three to two per cent, the Wildrose Official Opposition said today.

“Royalty reviews, dramatic minimum wage hikes and tax hikes on businesses and income will have a negative impact on businesses and families, especially given the current economic climate,” Wildrose Leader Brian Jean said. “Entrepreneurs and businesses deserve a ray of light that will help them deal with a set of policies that will make it more difficult to stay in business.”

The amendment will be put forward by Wildrose Shadow Finance Minister Derek Fildebrandt during committee of the whole expected later today.

In 2012, the NDP campaigned on lowering the small business tax rate. Alberta currently has the highest small business tax rate in western Canada, with Manitoba sitting at 0%, Saskatchewan at 2% and British Columbia at 2.5%

Fildebrandt said with the NDP showing no interest in consulting job creators on things like a dramatic increase to the minimum wage, this minor adjustment to the small business tax rate is a necessary concession to small businesses and their workers.

"On our present course, the government is doing significant damage to the small businesses that drive our economy," Fildebrandt said. "We are hopeful that the NDP will put hardcore ideology aside to work with the opposition and pass this amendment. This will help take the bite off."