Bad For Everyone – Alberta NDP Proposed Business Tax Hike Bad for Taxpayers

LETHBRIDGE, AB: The Canadian Taxpayers Federation is giving the Alberta NDP’s plan to hike taxes a failing grade.

“This NDP plan would hike taxes on job creators and that’s a reckless thing to do in a province that’s booming and hiring thousands of people,” said Kris Sims, Alberta Director for the Canadian Taxpayers Federation. “People are flocking here in record numbers to work hard and pay lower taxes, this huge NDP tax hike would be a scarecrow for entrepreneurs.”

On Tuesday, the Alberta NDP announced it would hike the province’s general business tax rate from eight per cent up to 11 per cent..

Revenue collected by the government from the business tax is actually increasing with the lower tax rate.

Alberta is forecasted to pull in $6.4 billion from the business tax in 2022-23. That’s an increase from the $4.8 billion that the government collected in business tax back in 2018-19 when the tax rate was at 12 per cent.

The NDP also pledged to drop the small business tax rate down to zero, matching the rate in Saskatchewan.

“Albertans want lower taxes, a more affordable life and a booming economy,” Sims said. “The NDP is right to lower small business taxes, but then it’s poking a huge hole in the economy by hiking the general business tax. The government should cut taxes on all job creators to keep Alberta booming.”

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