FREDERICTON, N.B. – The New Brunswick NDP says, if elected to form government, they would eliminate the small business tax within the first six months of taking office.
Party leader Dominic Cardy says eliminating the tax will allow employers to hire more workers and expand their operations.
Cardy points out the Liberals raised the small business tax to 5% when they last had power and the Tories had pledged to cut the small business tax in half, but ended up dropping it by only 0.5%.
It’s estimated that eliminating the small business tax would cost up to $36 million annually over the next four years.
However, Cardy says that cost would be offset by cuts to senior management in government, centralizing more services and eliminating government financial assistance for business.
