Business Sounds the Alarm Over Notley Tax-Hike Plan
(May 20, 2023) — Rachel Notley’s promise to impose a reckless 38 per cent tax hike on Alberta business is already causing fear and uncertainty, with the Alberta Chambers of Commerce criticizing the move.
In a recent statement, the Alberta Chambers of Commerce said they were “deeply concerned” about Notley’s tax-hike promise. “We’ve seen the impacts of this fiscal policy before. It doesn’t benefit any Albertan,” the association said.
“Alberta’s business industry know that if Alberta loses its internationally-competitive tax rate it hurts regular working people,” Fort McMurray-Lac La Biche UCP candidate Brian Jean said. “Alberta is competing with the world for investment. The NDP will make our province non-competitive.”
Jean pointed out that when Notley raised business taxes in 2015, she brought in less and less business tax revenue as investment fled the province for other jurisdictions. Under the UCP’s 8 per cent business tax rate, however, Alberta is seeing record high business tax revenue of $6.4 billion this year as the economy continues to grow and diversify.
“Rachel Notley and the NDP are promising to impose massive tax hikes on current and future Alberta businesses. This is causing fear for existing job creators and uncertainty for global companies considering investing in Alberta. This will lead to investment flight and job loss,” Jean said. “Under the UCP, Alberta is booming. We are attracting investment from across the world, and those investments are creating thousands of high-paying jobs. The UCP have renewed the Alberta Advantage. We must keep moving forward.”