NDP Fact Check

The NDP will deliver its commitments with a balanced approach and invest in the following: • Kick-starting the economy by supporting manufacturing, lowering small business taxes and investing in transit and infrastructure • Creating opportunities for young people by delivering 40,000 more apprenticeships, co-op placements and jobs for youth • Binging back the retirement age from 67 to 65, guaranteeing retirement security and increase GIS to lift 200,000 seniors out of poverty • Investing in healthcare and delivering $15/day childcare • Raising the federal minimum wage to $15/hour and reduce the small business tax rate frpm 11% to 9% • Reversing the cuts to Radio-Canada/CBC

Three major measures will give us the majority of our incremental revenue:

• Repealing income-splitting and roll back the doubling of Tax Free Savings Account allowances – two measures that disproportionately favour wealthy Canadians. • Closing stock option loopholes for CEOs and senior executives. This is a Conservative give-away that goes almost exclusively to those making $250,000 a year or more. • Increasing corporate taxes by two cents on the dollar, from 15% to 17%.

Although our opponents are using scare tactics to make people believe increasing the corporate income tax will result in job losses, here are the facts:

• The NDP corporate tax rate will be competitive – it will still be well-below the American and G7 corporate tax rates. • It’s below the average during Stephen Harper’s time as Prime Minister • It will allow us to make investments that will benefit all Canadians – investments that have been cut under the conservatives. • And finally – 85% of Canadians agree with us. So it’s important for us to cut through the noise and make sure our position is heard far and wide. • Justin Trudeau is refusing to increase corporate taxes. In fact, he would rather go into debt than ask corporations to pay a little bit more. That’s not a balanced approach – and it’s not progressive. • Tom’s plan will balance the budget and deliver the services we need. As Tom likes to say – he believes in the Tommy Douglas model – who balanced the budget 17 times, while still bringing in medicare. We can do this – we can be careful with Canadians’ money and deliver crucial services.

Stephen Harper’s approach has left Canada with a lot of problems to fix. They’ve been hitting the snooze button as jobs are lost across the country. • Under Stephen Harper, Canada has lost 400,000 good-paying manufacturing jobs. I think there’s no question it’s time for a change. • He has the worst economic record of any Prime minister since World War II

Justin Trudeau’s plan is to go into deficit for three years – even though he promised a balanced budget just a couple months ago. He’s planning 3 ten billion dollar deficits in a row, and a balanced budget in year four. There are two major problems with this:

• First, he has not told Canadians what he will cut or tax in order to balance in year four. He’s hoping the budget will just naturally come to balance – and that’s not a plan. Justin Trudeau needs to be clear about what he’s going to cut. • Second – As of today, Justin Trudeau has maxed out his credit card. He has said that he will go into $10 billion dollar deficit – and today, he’s reached $10 billion. This leaves him with a dilemma. Either he can’t make any more promises, he can’t fund those promises, or he has to cut something. He has to make a choice.

Unfortunately, Justin Trudeau has refused to ask his corporate friends to pay a little bit more – instead he’s asking Canadians to pay more with a massive deficit and cuts.

Tom’s plan is the only plan that is balanced and actually do-able.