ECONOMIC RISK: U.S. Tax Cuts Could Damage Canada’s Competitiveness

Yet the Trudeau government is still pushing ahead with more regulations and a damaging carbon tax.

As the United States moves to dramatically lower business and personal tax rates, Canada is facing a serious risk to our economic competitiveness.

That’s according to the Chief Economist for the Conference Board of Canada Craig Alexander.

BNN notes Alexander saying “As the global economy continues to recover more countries could be looking to follow the U.S. example and cut their tax rates, putting Canadian businesses at a greater disadvantage.”

Adds Alexander, “We actually have to pay a lot of attention to tax competitiveness in Canada versus other countries and it’s not just the United States. I think the balance of risks is that taxes in other jurisdictions are going to be coming down. There’s a lot we could do to reform the tax system in Canada to improve our tax competitiveness and it wouldn’t be part of the discussion that we’ve had in recent weeks.”

If Canada were just standing pat in terms of taxes that would be one thing. But with a carbon tax being rolled out across the country next year (and being forced on provinces that don’t want it), and with job-killing regulations expanding as the bureaucracy grows, Canada is moving in precisely the wrong direction.

Unfortunately for our country, many of the governing elites don’t realize or don’t care that Canada is in an economic battle with numerous nations, and there’s no way to win a competition if you tie the hands of Canadian businesses.

As a result, Canada is at greater risk of watching jobs and wealth flee across the border, to the detriment of all Canadians.

Spencer Fernando

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dee
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dee

in the states their leader is a brilliant self made man, in Canada the liberals were stupid enough to vote in a person who never held a full time job and I understand his daddy is still doling out his inheritance from the grave… did dad ever know his son. tax the shit out of us and then wonder why we can not compete with the usa. never mind artificially raising the bank of Canada rate to attract outside investment, having the side effect of adding a few hundred dollars more a month in interest on house payments

Jen
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Jen

As a result, Canada is at greater risk of watching jobs and wealth flee across the border, to the detriment of all Canadians. I would be out of Canada in a heartbeat had I a business or for that an advertising firm which pays hundred of thousands of dollars to businesses like cbc ctv and other reporting industries that shows no interest in their own country to report the damaging news. Why pay thousands or millions of dollars with heavy taxes on top of that to a bunch of empty heads reporters dying industry. The world lowers taxes to keep… Read more »