Press Release
Halifax Chamber of Commerce pleased with reduction in corporate and personal taxes
October 31, 2007- Halifax, NS- The Halifax Chamber of Commerce is pleased with the Economic Update Federal Finance Minister Jim Flaherty announced yesterday.
“It’s hard not to support an economic pronouncement like the federal government’s “mini budget” when they reduce corporate taxes, reduce the small business rate faster, and increase the pay-down of the debt,” says Chamber president Valerie Payn. “Even though we may not agree that a reduction in the GST is the best way to incent the economy there is no arguing that this will be a winner among voters.”
The scope of issues facing the Canadian economy is vast: the West is booming, some resource industries are thriving conversely others are suffering and manufacturing and exporting is ailing due to the high dollar.
“This is a very big country and national fiscal and monetary policies often lack the delicate touch needed to apply the fix that is needed for every industry and every region of the country,” says Payn. “While there is no quick fix to address all these challenges the government is taking steps to strengthen Canada’s ability to attract business and compete effectively.”
The Halifax Chamber of Commerce advocated for broad based tax relief including a reduction in the corporate income tax rate, in personal income tax rates and an increase in the basic personal allowance in our 2007 pre-budget submission. We are very pleased to see that the Federal government has responded in this aggressive manner to what we have been advocating for.
To read the Halifax Chamber of Commerce’s 2007 Pre-Budget submission visit our website at www.halifaxchamber.com.
For more coverage on the mini-budget please visit our national association The Canadian Chamber of Commerce.
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For more information contact:
Janet Creamer
Communications Coordinator
Halifax Chamber of Commerce
(902) 481-1240


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