OTTAWA – New Democrats are proposing new tax credits for businesses that hire young Canadians in order to tackle high levels of youth unemployment in Canada.
“The youth unemployment rate is double the national average, and yet Conservatives have failed to act,” said Official Opposition Finance critic, Peggy Nash (Parkdale – High Park). “We’re proposing a new tax incentive that will benefit both businesses and young Canadians. It will encourage businesses to create new jobs for youth while helping them with the cost of training.”
New Democrats are calling on the government to introduce tax credits to businesses hiring Canadians aged between 18 and 25. Under the NDP proposal, businesses would be eligible for an amount of up to $1,000 for hiring a young employee and for matching funds for the training of said employee. The tax credit would be doubled in regions of the country where youth unemployment is most dire.
“Conservative inaction is compromising the future of our youth and our long-term economic prosperity,” said the NDP Employment and Social Development critic Jinny Sims (Newton – North Delta). “Conservatives should adopt the NDP’s Youth Hiring Tax Credit policy as soon as possible to help reduce these high levels of youth unemployment in our country.”
“Young people today are more educated than ever but are not able to get jobs that match their capabilities,” said NDP Youth critic Matthew Dubé (Chambly – Borduas). “The NDP Youth Hiring Tax Credit is a win-win situation for our young workers and the businesses who hire them.”