OTTAWA — Canada's job market performed somewhat better than expected last month, with gains concentrated in full-time, private-sector employment, in industrial sectors and for those younger than 25.The corporate tax cuts have just kicked in which should provide even more jobs which will help plus the new Minister of State for Finance,Ted Menzies( who is my MP by the way) announced the other day funding to help create about 3500 summer jobs for students.
There were 22,000 additional people working in Canada last month, Statistics Canada said Friday. That slightly exceeded economists' expectations for gains of 20,000.
Most experts anticipated a surge in people looking for work would cause the unemployment rate to rise to 7.7 per cent, but it remained steady at 7.6 per cent.
When people are working it's good for the economy but the Liberals apparently don't agree.They say they will freeze corporate tax cuts and spend the money on big government social welfare programs. I don't see how that will create jobs. Infact John Ivison points out that a stronger economy actually weakens the Liberalsbecause the lower corporate tax rates are working.
It must all make for grim reading for the Liberals, who are keen to freeze corporate tax rates. When he unveiled his plan to cancel the planned $6-billion in corporate tax cuts last March, Michael Ignatieff pledged to "create fiscal room to realize some dreams" -- that is, finance his own spending plans such as the $1-billion home-care support package.Even the Americans are noticing.
Now, instead of expanding Canada's welfare state, the conservative government led by Mr. Harper is intent upon building the nation's global competitiveness. Our friends in the Great White North cut their corporate tax rate to 16.5 percent on Jan. 1 and will see it drop to 15 percent next year. That compares to the current U.S.Canada the lowest corporate tax rate among the G-7 nations and an eye-popping advantage for businesses wondering whether to locate on the U.S. or Canadian side of the border.This indeed is bad new for the Liberals as they were hoping the Canadian economy would just keep spiraling down, down,down and the public would turn on the Conservative government and they would swoop in and take reins of power. It hasn't turned out that way. With every piece of good news like this one today, Iffy and the Libs will have a hard time convincing Canadians they are the right ones to create jobs and prosperity.
The PM and his team have done a good job handling the economy and the public has no appetite to "kick the bums out."
Iffy and the socialists refer to the $6 Billion in corp tax cuts as 'borrowed money' 'we can't afford'..!
ReplyDeleteWRONG on 2 fronts
1. the corp tax cuts MADE money,
"...actual total on corporate income tax receipts, at $30.4-billion, was roughly 8.1% more than the federal government anticipated in budget 2010. Total government revenue dropped 6.2% year-over-year, largely due to a 10.4% fall in personal income tax receipts.
($1.6 billion in 'corp' tax cut, over $3 billion increase in actual over estimated 'corp' tax revenue,
a net gain. Personal income tax revenue fell, not corp tax revenue)
http://business.financialpost.com/2010/10/13/canadian-corporate-tax-revenue-keeps-climbing-despite-tax-cuts/
'The creation of a positive environment for investment, jobs and growth has resulted in an explosion of business investment -- up 20% in the third quarter of 2010, which should enhance Canada's competitive position.' (Ivison)
2. there is no $6 billion in corp tax cuts, unless next years cut and ALL the previous years cuts (including Jan 2011) are reversed, to total $6 billion.
Is that Iffy's secret agenda?
Next year is the FINAL tax cut to bring corp taxes to 15% from 16.5%.
You are exactly right,wilson.
ReplyDeleteJust one more example how the liberals put there own intrests ahead of the canadian people. To hope that the country would be damaged for there own gains is dispicable, "only in it for himself" can be expanded to the entire party.
ReplyDelete