Finance Minister Bill Morneau delivered a pre-election budget built for voters, not businesses, disappointing those who hoped for a broad-based corporate tax cut, a comprehensive review of Canada’s aging tax code or other measures to boost competitiveness.
Nevertheless, some of the key pillars of Morneau’s fourth budget, while designed for a different audience, will also benefit Canadian businesses, said Craig Alexander, chief economist at Deloitte Canada. Among the items that will have the most obvious impact is spending related to skills training. A new Employment Insurance Training Support Benefit offers 55 per cent of average income for up to four weeks of paid leave to support training.
The budget made some moves to address regulatory burden in the form of “regulatory roadmaps” to address red tape in agri-food and aquaculture, health and biosciences and transportation and infrastructure. The measures include the introduction of “regulatory sandboxes” or “safe spaces” that allow innovative products and services to be tested without immediately being subjected to regulatory requirements.
While many of the moves were welcome, they don’t necessarily address growing concerns about slumping business investment and a corporate tax rate that has now been undercut by reductions south of the border. The U.S. changes, which took effect January 2018, dropped the combined federal and state corporate tax rate from 38.9 per cent to 25.8 per cent, bringing it below Canada’s combined rate of 26.8 per cent.
DarylGregoire Hmmm. What’s wrong with that
Buy those votes .....no pot to promise this yr🤡
notvoting2019.
Exactly - A budget for the people. About time.
Trudeau is just trying to buy votes nothing more the loser needs to resign
And votes should know sooner or later Canadians will have to pay for this budget.
The budget does absolutely nothing for me. And Trudeau's corruption means I will not vote Liberall unless he resigns.
Strengthening the middle class. lmfao. Right trudo right.
Of course you wrote this headline before you saw the budget. If you want corporate tax cuts, you must be loving Trump.
Just bribing us with our own money again 😩 TrudeauMustGo 🍁
Vote buying is an old Liberal strategy.
It’s a budget to”buy”weak minded voters with BORROWED money that their children and grandchildren will have to pay off, businesses employ MOST Canadians and business “investment” dropped Dramatically last quarter which gave us 0.4 economic growth. The US economy or roaring hello?
Are we really too stupid to see through this?
Okay cer
You say like this is a bad thing.
Perfect!
That budget is more liberal lies. The same tactics they used to get elected. Big promises, nothing before the election.( And nothing after). they fooled me last election, won't happen again. liberal_party. They count on people being stupid and oblivious.
Thanks tips. Just like SNC is for votes.
Good.
Huge deficits are for voters? More taxes in the future is a budget for voters? Really! I think this budget is only for the liberal party! LetJodySpeak
so this first time home buyers scheme is planned for a Sept. launch convenient just before election? But one does wonder what this just did to the real estate sales from now until then why buy now? if this promised program ? makes buying so much 'better'? in Sept.?
The economy should work for people; how did we get so twisted into thinking people should work for the economy?
Conservatives hopefully will govern After the election .
Every bank in Canada gave the budget a mild to neutral approval, every economic think tank depicted the budget as non-destructive and in parts very helpful to the economy. Why then is the National Post labeling it in a wholly negative manner? Bias?
Business has become the problem, not part of the solution. Massive inequality in pay scale has made their situation bad! Want better consumer spending....pay workers better, instead of just rewarding a few, many who have not delivered the results you have rewarded them for!!!
Gosh are we have one of those moments where the editors are choosing the headline and trying to set up a narrative. Even the article reluctantly starts to recognize business wasn't forgotten the budget just addressed them in a sneakier way.
Fun fact: voters, not businesses, have the constitutional and statutory right to vote.
Good! We’ve catered to business for decades!
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