When the NDP came into power, they promised a 20 per cent tax hike on job creators would bring in massive amounts of new revenues. They promised Albertans it would solve our budget shortfalls.
They were wrong.
By $8.4 billion over their four years in power.
Instead of bringing in more revenue, the NDP tax hike made a difficult economic situation even worse for Albertans.
Not only that, NDP tax hikes wiped away the Alberta Advantage. When they were elected, Alberta had the most competitive tax rates for job creators. Combined with tax cuts from the U.S. government, we became less competitive than several Canadian provinces and U.S. states.
We promised Albertans major action on making Alberta a safe and competitive place to invest again. We promised Albertans that our province would once again be open for business.
The Job Creation Tax Cut was a major piece of that promise.
The Job Creation Tax Cut makes Alberta once again one of the most competitive places to invest and run a business in all of North America. That means more investments in jobs, more investments in the province, and more opportunities for people.
Unlike the NDP’s plan, its aim is to drive investment into the province, and therefore drive up revenues over the longterm by creating a larger tax base.
Shortly after we were elected, we kept our promise to Albertans to reduce taxes on our job creators from 12 per cent to 8 per cent over a four year period.
With the economic crisis in 2020, we accelerated the tax cut to be fully in place by July 1, 2020.
We were elected to deliver on 375 positive commitments we made to Albertans in our platform.— United Conservative Party of Alberta (@Alberta_UCP) July 30, 2019
We've already delivered on 55 of them, and we're just getting started.
One of those promises? The Job Creation Tax Cut to get Alberta back to work. #PromiseMade #PromiseKept #ableg pic.twitter.com/yCJWYBZ5oo