Wednesday, September 14, 2011
Leadership on the economy
Premier Dalton McGuinty has said the tax rate on new investment by small businesses will be reduced by 55%. Ontario's economic strength depends on the strength of our businesses, large and small. That's why Ontario Liberals are working with small businesses to free up some of their resources so they can invest back into themselves and grow even stronger.
When the changes are fully implemented, the tax rate on new investment for small businesses will be reduced by 55% — good news for employers such as farms, retailers and smaller manufacturers. When small businesses succeed, we all succeed. They bring a lot to Ontario communities — good jobs, and great products.
The Ontario Liberal platform, "Forward. Together." includes the next steps to help small businesses. Ontario Liberals will:
-Triple the number of successful start-ups in the next five years by providing incentives for risk capital
-Enhance and increase support for young entrepreneurs, and for small and medium businesses to access new trade markets
-Create a new Southwestern Ontario Economic Development Fund and make the Eastern Ontario Development Fund and the Northern Ontario Heritage Fund permanent.
Ontario Liberals have already cut the business tax rate from 5.5 per cent to 4.5 — which will fall to 4.0 per cent under the Ontario Liberal Plan.
The Hudak PCs $14 billion hole would also mean deep cuts to education, depriving us of the highly skilled workers who attract new business to Ontario. The Horwath NDP would introduce a crushing $9 billion in job-killing taxes. Both would take Ontario off track at the worst time.
Ontario Liberals are working to make Ontario the place to be when it comes to building your business. Only Ontario Liberals have a plan to keep Ontario moving forward, together.