The Employers’ Council launched Another Way Forward today, an alternative to government’s fiscal plan developed with research from the Conference Board of Canada. This proposed plan relies less on tax increases and more on government spending reductions. The Conference Board found that NL has the second highest personal tax burden in the country. Another Way Forward outlines recommendations for government to reduce taxes by $591 million to make them the most attractive and affordable in Atlantic Canada. This will prevent people from leaving the province, provide an incentive for people to move here, and increase business investment.
The plan also lays out suggested areas government can reduce spending to make a lower personal and business tax burden achievable. NL has the highest per capita government program spending in Canada. The Conference Board found that the NL government could reduce spending by $1.1 billion and NL would still have the highest per person program spending in Atlantic Canada. The Employers’ Council’s Another Way Forward highlights areas where NL spends significantly more per person than other provinces, and illustrates that government has many options to reduce spending in order to make a lower tax burden for the people of the province achievable.
Visit http://anotherwayforward.ca to learn more. The site also provides an opportunity to email your MHA asking them to take action on reducing government spending in order to lower taxes.
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