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Friday, August 26, 2016

August 26, 2016

 

For Immediate Release

 

 

 

Small Business Needs New Approach from Ball Liberal Government

 

Steve Kent, Business Critic for the Official Opposition, said the Ball Liberal government's approach is crushing the very small businesses that are needed to turn decline into growth in the province, and the evidence is in the latest business barometer released by the Canadian Federation of Independent Business.

 

On the latest CFIB business barometer, ‎Newfoundland and Labrador scored 37.8, a dismal result that is well below the "50" minimum for a healthy economy.

 

The CFIB cited the Liberals' massive tax and fee hikes on businesses and consumers as the main reason for the ‎low score.

 

"The Liberals jeered the PC administration for cutting taxes on consumers and the businesses that employ people in Newfoundland and Labrador. The Liberals clearly do not understand that they are crushing our economy when they fail to implement progressive tax policies to make businesses competitive, when they deprive consumers of the cash and the confidence they need to start spending, and when they leave employers without the confidence or the fiscal capacity to hire and to invest in growth in our communities," said Kent. "They do not understand the most basic equation at the heart of a sound economic plan."

 

"The Liberals' 2016 budget projects job losses of more than 30,000 in our province in the next five years and admits that the Liberals' fiscal approach will be 40-50% to blame for that decline. ‎All they have to do is read their own budget document to figure out that their approach is doing more harm than good to our employers, families and economy, and sending the province reeling down the road to ruin," said Kent. "Their own policies are smothering our economy."

 

"Excessive taxation drains the lifeblood of our people and businesses in order to pay the bills. It's a recipe for disaster. Not only have the Liberals failed to produce a plan for economic growth, but they have failed to grasp the fundamental principles of running an economy, and this can't go on," said Kent.

 

"The previous PC administration had a strategic economic plan to reduce the size and cost of government through attrition while using tax and other policies to stimulate the businesses that employ our people and the consumers whose spending supports our businesses. It's time for the Liberals to read the PC plan that they spent so much time mocking and restore sound principles to the governance of Newfoundland and Labrador so we can get off the path to massive decline that the Liberals have put us on. The Liberals need to restore sanity to tax policy so our small businesses can do what they had been doing so well: driving growth in our communities where growth is so desperately needed."

 

Kent pointed out that, "faced with insufficient revenues to keep taxes low, six provinces are receiving billions in equalization this year to boost their revenues while the Ball Liberals are seeking to get their extra revenue from our own people and businesses instead of fighting Ottawa for the fair treatment we're owed under the Constitution, where the right to equalization‎ is clearly spelled out."

 

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Media Contact: Heather MacLean, Director of Communications, Office of the Official Opposition

 

(709) 729 6105, heathermaclean@gov.nl.ca

 

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