Flaherty Calls For Lower Taxes In Provinces
Jim Flaherty, Canada's Federal Finance Minister, last week called for lower levels of corporate taxes to be imposed in certain provinces. Speaking to the Halifax Chamber of Commerce, Mr Flaherty was quoted by the Canadian Press as announcing that: "I've challenged the provinces to drive down their business tax rates
to 10 per cent by 2012," going on to suggest that combined with a 15% federal
rate, such rates would "brand our country globally as a 25 per cent business tax
jurisdiction". Flaherty reportedly went on to slam the Ontario authorities in particular, arguing that: "If you're going to make a new business investment in Canada, and you're concerned about taxes, the last place you will go is the province of Ontario." Not surprisingly, Mr Flaherty recieved some harsh criticism, not least from Dwight Duncan,
Ontario's Finance Minister, who dubbed the comments "partisan nonsense". .
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