January 27th, 2015
Tom Mulcair proposes concrete measures to help the middle class
“Manufacturing, Innovation and Lower Small Business Taxes Will Create Good Jobs and New Opportunities for the Middle Class.”
In a major speech to the Economic Club of Canada today, NDP Leader Tom Mulcair announced concrete proposals that will help Canada’s manufacturers and small businesses create good-paying, full time middle class jobs for Canadians.
“I believe the most important economic asset Canada has is the middle class,” said Mr. Mulcair. “Today’s proposals will help our manufacturing sector and small businesses create middle class jobs and help weather the storm in the months and years ahead.”
Mr. Mulcair announced that an NDP government will trigger manufacturing investment by extending for an additional two years the accelerated capital cost allowance, scheduled to expire later this year.
Mr. Mulcair will also boost innovation, research and development by introducing a new Innovation Tax Credit to encourage manufacturers and businesses in other industries to invest in machinery, equipment and property to further innovation and increase productivity.
Tom Mulcair also announced that an NDP government will cut the Small Business tax rate from 11 per cent to 9 per cent. “The Small Business tax cut will provide immediate and permanent help for Canada’s hard working small business people who are the backbone of local communities and the creators of 80% of all new jobs in this country,” explained Mr. Mulcair.
“These initiatives in manufacturing, innovation and lower small business taxes are a first of a series of important steps to create jobs and immediately give a break to the middle class,” concluded Mulcair.