Canadian Chamber welcomes revised tax reforms and lower small business tax rate but remains vigilant
Guillaum (Will) Dubreuil – 16/10/2017 –
Ottawa, October 16, 2017 — The Canadian Chamber of Commerce welcomes the government’s plans to revise its proposed tax reforms and to reduce the small business tax rate as a result of the comments and concerns expressed through the #ProtectGrowth campaign and in consultations.
“Finance Minister Bill Morneau has responded to some of the concerns expressed by the Canadian Chamber and the small and medium-sized businesses it represents, and by his caucus colleagues. The government’s revised package is still not perfect, but is more balanced and it addresses a number of the issues that have been raised over the past several weeks,” said the Hon. Perrin Beatty, CEO and President of the Chamber.
As Canadians celebrate Small Business Week, Mr. Beatty congratulates the thousands of businesspeople who joined the Canadian Chamber’s mobilization and made their voices heard on this important issue affecting Canadian workers and employers. “By providing a voice for businesses in communities across Canada, the Canadian Chamber and its network of local chambers helped prevent devastating damage. But the hard work has only started,” Mr. Beatty added.
The Chamber also noted the Minister’s call for further input from Canadian businesses, and intends to continue providing a voice to ensure the tax system is simpler and less of a burden on Canada’s competitiveness.
“It is always more productive when government and business work together. We can only hope the government will listen as we provide advice on those areas where more remains to be done, and that they will propose concrete data to back up their claims. The Canadian Chamber will be reaching out to its membership across the country for suggestions on reforms that can improve the competitiveness of Canada’s tax system. Lowering the small business tax rate is one such measure, but there is still much room for improvement,” Mr. Beatty said. “At a time when our largest trading partner is initiating a major overhaul of its tax system, we must ensure that Canada remains an attractive place to do business. Although there is a great deal of work to be done, today’s announcement is a positive first step, but we expect more and we will be vigilant on the next steps,” he concluded.
The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade, representing 200,000 businesses of all sizes in all sectors of the economy and in all regions. News and information are available at Chamber.ca or follow us on Twitter @CdnChamberofCom.
Guillaum W. Dubreuil
Director, Public Affairs and Media Relations
Canadian Chamber of Commerce