NDP "Tax Hioliday" Could Mean Permanent Vacation For Small Business and Workers

You may have heard Langley NDP candidate Kathleen Stephany offer a "Tax Holiday" to small business to help them cope with an NDP-proposed hike to the minimum wage. The NDP is saying that this hike in required because people are raising families on a minimum wage salary.  This is yet another clear indication that the NDP does not know how to be fiscally responsible in a good or poor economy. BC Liberal Mary Polak pointed out that Stats Can tells us that the majority of the people working for a minimum wage are under 25 years old and live at home. Here is more commentary on what this "Tax Holiday" alone will cost BC's small businesses. 

Commentary

The NDP's proposal for a one-time "tax holiday" for small business will do nothing to address the crippling effects of the NDP's additional new taxes and wage policies that could result in hundreds of business closures and layoffs for thousands of workers, says Finance Minister Colin Hansen.

 
"Small businesses employ more than one million people in our province and for the NDP to pretend to be the friends of small business with their latest platform is completely disingenuous," says Hansen. "This one-time, stop-gap payoff will do nothing to remedy the long-term effects of the NDP’s other taxes and their reckless commitment to raise payroll costs for small businesses."
 
The NDP platform commits to a "tax holiday" for small businesses that will lower small business taxes by half a percentage point for a single year, after which the tax will go up again.
 
Meanwhile, the NDP's commitment to raise minimum wage by 25 percent will result in a year-over-year cost of $450 million on small businesses. Their punitive $155-million tax on private liquor retailers will add further costs to those small businesses.
 
In contrast, the BC Liberals have already permanently lowered small business tax rate by 44 percent, and have committed to making them the lowest in Canada by April 1, 2012. This is a commitment the NDP have refused to honour if elected.
 
"The NDP isn't fooling anyone. Their platform and tax plan will be devastating for small businesses, their workers, and their customers. Thousands of jobs are on the line, pure and simple," says Hansen. "Small businesses are already working hard to stay afloat and protect their employees during this global economic crisis.  For the NDP to weigh them down with more taxes and costs is reckless and irresponsible."