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Monday, October 17, 2016

October 17, 2016

 

For Immediate Release

 

 

 

Small Business Struggles Under Ball Liberals; Opposition Calls for a New Approach

 

 

 

Steve Kent, the Official Opposition Critic for Business, said, "The Ball Liberals should be marking the start of small business week with an announcement that they will be reversing their Budget 2016 policies that are crushing small businesses throughout our province."

 

 

 

"In this year's Budget, the Ball Liberals raised a host of taxes and fees while cutting tax credits, not only making local small businesses less competitive, but leaving many of their customers without the cash or the confidence to spend in their enterprises," said Kent.

 

 

 

"Not only did the Ball Liberals raise the HST to 15 per cent after saying they wouldn't , but at the same time they also raised the taxes on fuel, the taxes on insurance, the taxes on corporate income and numerous fees impacting small businesses and their customers while eliminating the Manufacturing and Processing Tax Credit that helped make small businesses competitive," he said. "Small businesses operating at the margins of profitability were pushed over the edge while others had to downsize, costing jobs and opportunities."

 

 

 

"Instead of bringing in a clear long-term plan to curb government spending in an orderly fashion to reduce the need for high taxes, the Ball Liberals issued a vague ‎and lingering threat of huge cuts to come, leaving everyone in the province in the dark for nearly a year about what cuts they had in mind - and they've just extended this period of uncertainty beyond this fall. As a consequence, without any clear sense of what's coming, consumers have reined in their spending while businesses have put off investments, sinking our already-fragile economy into a deep freeze," said Kent.

 

 

 

"Many small businesses have been unable to weather the storm caused by the Ball Liberals' ill-conceived policies. They are certainly not celebrating this week. At a time when the oil and mining sectors are experiencing significant challenges because of low global commodity prices, we need our government to be driving growth in other sectors that can pick up the slack, such as agrifoods, tourism, fisheries, innovation and so forth. But rather than do that with progressive policies that facilitate growth, the Ball Liberals have crushed small businesses, the backbone of our province's economy.

 

 

 

"When urged by our Caucus to cut taxes in order to stimulate growth, Premier Ball mocked us. What he and his fellow Liberals don't seem to understand is that, when a government's policies ‎decimate the small business sector, as the Ball Liberal policies have done, the entire province suffers a loss of economic activity, revenue, growth opportunities and jobs.

 

"If the Ball Liberals really want to give small businesses something to celebrate this week, they should announce the reversal of their own job-killing 2016 Budget policies, and stop crushing the small enterprises that would be so effective in driving growth ‎in our local neighbourhoods, as they had been doing so effectively under the more-progressive policies of our administration," said Kent.

 

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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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