On July 18, the Minister of Finance announced the Liberal’s new tax plan. However the Trudeau Government’s plan is a far cry from what they have been promising Canadians.
These new proposals could see taxes DOUBLE for small businesses, farmers and professionals. As a result small businesses will be forced to dramatically increase the cost passed on the consumer or close their doors. We will also see an increase in what is already a mass exodus of doctors and other professionals to the US.
But most of all these tax changes will hurt families.
The Liberals already eliminated income splitting for families with children in their first budget. Now they are on the attack again, setting their sights on small businesses, farmers and professionals.
These tax proposals will also hurt the employees of these businesses—approximately 70% of Canada’s workforce—and make it harder for them to provide for their families. These new tax measures will leave many employers with no choice but to freeze wages, cut employee hours, cut benefits or let employees go.
These changes will make it next to impossible for families to build wealth. They will also make it impossible to leave family businesses or farms to the next generation.
Parents who have worked hard (and paid their taxes) to be able to pass something on to their children will be unable to do so. It will simply be too expensive.
In short, these new proposals are not only an attack on Canadian small businesses; they are an attack on Canadian families.
Why should your family have to pay the price for Justin Trudeau’s broken promises and his out of control spending?
Conservatives are working hard to ensure that the voices of hardworking small business owners and their families are heard. Conservatives believe taxes should be lower for all Canadians: for businesses, families, and individuals. This is a core part of our Conservative vision of prosperity and opportunity for all Canadians. Prosperity and opportunity that Justin Trudeau is depriving you of today and stealing from your children’s tomorrow.