PRIME MINISTER STEPHEN HARPER ANNOUNCES PAYROLL TAX CUT
Prime Minister Stephen Harper today announced that a re-elected Conservative government will cut payroll taxes by over 20 percent in 2017 and protect Canadian jobs from the dangerous Employment Insurance and CPP tax hikes promised by both Justin Trudeau and Mulcair, as part of a discussion on the Conservative Party’s low-tax plan for jobs and growth with the Ontario Chamber of Commerce.
"By dramatically reducing payroll taxes, Canadian workers will see their take-home pay increase and businesses - especially small businesses - will be able to create new jobs and invest in their current employees,” Prime Minister Harper said. “Our Conservative government has a proven record of reducing taxes on hardworking Canadians and job-creating businesses, and we have a plan to go further.”
Thanks to the Harper Government, Canadian workers and businesses are enjoying the lowest federal tax burden in more than 50 years. As a result, Canadians' take-home pay is higher, businesses are able to invest in new products and personnel, and Canada's economy can grow and move forward despite global economic instability.
Payroll taxes under Prime Minister Harper's leadership are low and 780,000 job-creating small businesses have been benefitting from the Small Business Job Credit, which has reduced their Employment Insurance payroll costs by 15% since January 1, 2015. Prime Minister Harper's plan would see the Employment Insurance premium rate drop from $1.88 per $100 in 2016 to an estimated $1.49 per $100 in 2017, resulting in real, substantial savings for Canadians.
"Approximately 16 million working Canadians will see the benefits of this rate reduction on each and every paycheque,” Prime Minister Harper said. “Put simply, our plan will cut taxes on working Canadians and keep them low.”
Prime Minister Harper also reiterated that a re-elected Conservative government would not raise CPP payroll taxes. “CPP payroll tax increases would hurt middle-class Canadian families, leaving them with less money every month,” said Prime Minister Harper. “While the other parties are promising big CPP tax hikes, we have been clear that we will never raise payroll taxes.”
"Justin's promise to hike payroll taxes across the country puts Canadian jobs at risk and shows that he is not ready to handle Canada's economy," Prime Minister Harper said. "Mulcair and the NDP have repeatedly pushed their plan to hike taxes and pile on debt, which will create economic chaos nationally and cost Canadian workers money and their jobs. Our low-tax plan is helping create jobs and move Canada’s economy forward.”