Nova Scotia business tax cut is example we should follow: NDP
A member of the provincial NDP caucus asked government again today to lower the business tax on small businesses in the province from 4 per cent to 3 per cent.
Yesterday’s provincial budget in Nova Scotia announced that by January 2013, the tax will have been lowered from 5 per cent in 2010 to 3.5 per cent. NDP Innovation, Business, and Rural Development critic Christopher Mitchelmore asked Finance Minister Tom Marshall whether he planned to include any such measure in the upcoming provincial budget.
“Seven other provinces now have a more competitive small business rate,” Mitchelmore said. “It is imperative that Newfoundland and Labrador continues to have a welcoming and nourishing climate for the entrepreneurs who fuel our economy, particularly in rural areas.”
Lowering the small business tax rate is an idea the provincial NDP has been promoting for some time now. It was a key point in the party’s costed election platform in 2011, and the subject of the first private member’s motion presented in this session of the provincial legislature.
On March 21, St. John’s East MHA George Murphy, the NDP Consumer Affairs Critic, made the same request of government, saying “This simple measure would have a relatively small impact on the provincial government budget, but it would make a huge difference to businesses as well as the communities they are part of.”