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Keith Hutchings, Finance Critic for the Official Opposition, said despite the tens of millions in tax breaks the Ball Liberals gave to production and retail companies from out of the province...
Wednesday, January 30, 2019

St. John’s, NL (January 30, 2019) – Keith Hutchings, Finance Critic for the Official Opposition, said despite the tens of millions in tax breaks the Ball Liberals gave to production and retail companies from out of the province, Newfoundland and Labrador-based retailers are being forced to close their doors due to supply shortages.

“From the very beginning, the announcement of massive tax credits to attract outside companies to our province never did make any sense.  Local investors always said they could do it; yet the Liberal government gave tax incentives saying they needed to do this to secure supply.  So here we are today, with a local retailer having to close up because of no supply.  What happens to the tax credits given to ensure supply?” Hutchings asked.

“A Clarenville retailer that invested in good faith has been driven out of business because the Liberal plan to guarantee supply with subsidies is not working.  Other retailers are also complaining that the failure of the Liberal plan to meet demand is forcing local companies to cut staff.  Retailers are being told it may be years before the problem is rectified.”

“After investing their own money and applying for a licence in good faith, a local business is being squeezed by the Liberals’ failure to live up to their end of the bargain.”

“Meanwhile, the Liberal-subsidized supplier – freed of the tax burden that other enterprises bear – is operating its own retail outlets and competing with the enterprises that are feeling the crunch of its failure to meet the demand.  Public funds are creating an unfair marketplace advantage against local companies.”

A Ches Crosbie PC Government will promote fairness in the marketplace.  This is in keeping with the PC Party policy of lower taxes, affordable energy and honest government.

Contacts:

Bradley Russell

Director of Policy and Research

(p) 1.709.729.3668

(c) 1.709.685.3161

BradleyRussell@gov.nl.ca

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