REGINA: The Canadian Taxpayers Federation (CTF) is urging the government to fully implement the recommendations made by the Saskatchewan Business Tax Review Committee which was presented to the government this morning.

The committee's recommendations included:

• Eliminating the Corporate Capital Tax by 2008
  
• Reforming the capital tax on large resource companies
  
• Reducing the 17 per cent Corporate Income Tax rate to 12 per cent by 2008
  
• Increasing the small business threshold to $500,000 by 2008
  
• Reforming the Investment Tax Credit to make it refundable and extending the time frame

The committee adopted many of the CTF's recommendations, including eliminating the Corporate Capital Tax, reducing the Corporate Income Tax and removing the PST from the cost of business inputs.

"This is an historic opportunity for Saskatchewan," said CTF Saskatchewan director David MacLean. "All of these recommendations are designed to create jobs and prosperity - something Saskatchewan sorely needs right now."

"These recommendations are a vindication for the CTF. We have fought on behalf of taxpayers for a fair tax system for years," said MacLean. "The government can no longer ignore the concerns of Saskatchewan taxpayers. It's our hope that these recommendations represent a turning point for our province."

"As Committee Chair Jack Vicq said this morning, Saskatchewan has no choice but to implement these recommendations," added MacLean. "Failing to take advantage of this opportunity would a step backwards for the province."