ECONOMIC RISK: U.S. Tax Cuts Could Damage Canada’s Competitiveness

Yet the Trudeau government is still pushing ahead with more regulations and a damaging carbon tax.

As the United States moves to dramatically lower business and personal tax rates, Canada is facing a serious risk to our economic competitiveness.

That’s according to the Chief Economist for the Conference Board of Canada Craig Alexander.

BNN notes Alexander saying “As the global economy continues to recover more countries could be looking to follow the U.S. example and cut their tax rates, putting Canadian businesses at a greater disadvantage.”

Adds Alexander, “We actually have to pay a lot of attention to tax competitiveness in Canada versus other countries and it’s not just the United States. I think the balance of risks is that taxes in other jurisdictions are going to be coming down. There’s a lot we could do to reform the tax system in Canada to improve our tax competitiveness and it wouldn’t be part of the discussion that we’ve had in recent weeks.”

If Canada were just standing pat in terms of taxes that would be one thing. But with a carbon tax being rolled out across the country next year (and being forced on provinces that don’t want it), and with job-killing regulations expanding as the bureaucracy grows, Canada is moving in precisely the wrong direction.

Unfortunately for our country, many of the governing elites don’t realize or don’t care that Canada is in an economic battle with numerous nations, and there’s no way to win a competition if you tie the hands of Canadian businesses.

As a result, Canada is at greater risk of watching jobs and wealth flee across the border, to the detriment of all Canadians.

Spencer Fernando

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