HALIFAX, NS: Today the Canadian Taxpayers Federation released its 2019-20 Pre-Budget Submission, which the CTF presented to the Nova Scotia government.
“Nova Scotia needs to make it clear that the province is welcoming to job creators and doctors,” said CTF Atlantic Director Paige MacPherson. “We need to stop turning them away with the highest tax rates in Canada,”.
The submission calls for lowering taxes for working Nova Scotians of all income levels. Nova Scotians pay the highest top marginal income tax rate, the highest business taxes and the highest sales taxes in Canada. Reducing income taxes by 10 per cent would save taxpayers $270 million.
“Research shows that reducing Nova Scotia’s business taxes would actually bring in more government revenue by spurring economic growth,” said MacPherson. “Lowering taxes can help make Nova Scotia a place where people can return home to good jobs and services.”
The CTF’s Pre-Budget Submission commends the McNeil government for delivering three consecutive balanced operational budgets, and offers solutions for more savings, including eliminating all corporate welfare such as the Yarmouth ferry subsidies.
“The government deserves kudos for balancing budgets, but the debt is still growing,” said MacPherson. “Reducing the debt will lift the burden on future Nova Scotians.”
This year, the Nova Scotia government spent $876.1 million on debt interest payments – nearly half of the province’s equalization cheque from Ottawa.
“With limited funds, we need to deliver the best value for dollars spent,” said MacPherson. “That means welcoming independent growth and partnerships in health care and innovative solutions such as charter schools in education. It is possible to get creative and reduce spending while improving service delivery for Nova Scotians.”
The CTF’s Nova Scotia 2019-20 Pre-Budget Submission, titled Make Way for Growth, can be read here.
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