NDP’s modest corporate tax increase lower than average rate under Liberals and Conservatives

Tonight’s debate is showing Canadians that it’s time for change in Ottawa. After ten years of Stephen Harper’s Conservative government, middle class families are working harder but can’t get ahead.

As part of Tom Mulcair’s balanced fiscal plan released yesterday, the NDP is asking the largest, most profitable corporations to pay their fair share.

According to OECD numbers, the 17% corporate income tax rate proposed by Tom Mulcair is lower than the average rates under either the Chretien-Martin Liberals or Stephen Harper’s Conservatives.

Raising the tax rate paid by profitable corporations from 15 to 17% also leaves Canada’s rate below the G7 average.

Other measures outlined yesterday include reducing the tax rate for smaller businesses, where over 80% of new jobs in Canada are created. Targeted tax incentives to companies that are actually creating jobs will also be introduced.

Tom Mulcair has a costed, balanced and sustainable plan that creates jobs and kick starts the economy while investing in the priorities of middle class families.