September 16, 2015
NDP releases balanced fiscal plan
Long-term investments to help families get ahead
Today, members of the NDP’s Economic Team presented Tom Mulcair’s balanced fiscal plan, which makes investments in areas like infrastructure, health care and protecting retirement security within a balanced budget.
“Leadership is about priorities. Tom Mulcair has a long-term balanced fiscal plan to help middle-class families get ahead without leaving costs for the next generation,” said Andrew Thomson, former provincial Finance Minister and NDP Candidate (Eglinton-Lawrence). “For ten years Stephen Harper chose to push the snooze button even though families are working harder but still can’t get ahead. Justin Trudeau is choosing the panic button, with his reckless, un-costed promises and his billions in new deficits and debt.”
The NDP fiscal plan will produce a balanced budget in each year of an NDP mandate. Revenue measures contained in the plan include increasing the tax rate paid by profitable corporations from 15 to 17%, which is lower than the average it was under Stephen Harper and leaves Canada’s rate below the G7 average. The NDP fiscal plan will also eliminate the CEO stock option tax loopholes and crack down on tax cheats.
“Stephen Harper wants to spend $2.2 billion on income-splitting and new TFSA promises that only help the wealthiest Canadians,” said Peggy Nash, Industry Critic and NDP candidate (Parkdale—High Park). “We are going to use that money to invest in better health care, making life more affordable and kick-starting our economy, while protecting seniors’ ability to split pension income.”
The NDP is the first party to release a balanced and fully-costed fiscal plan. They have challenged Stephen Harper and Justin Trudeau to provide their fiscal frameworks.
“Canadians can see Tom Mulcair’s numbers in black and white. Now it’s time for Stephen Harper and Justin Trudeau to show Canadians their numbers,” said Guy Caron, professional economist and NDP candidate in Rimouski - Neigette — Témiscouata — Les Basque . “Our framework shows exactly how we will ensure 1 million childcare spaces at no more than $15 a day, kick-start the economy, and invest in healthcare all while keeping the books balanced.”