Another Business Group Condemns Notley Tax-Hike Plan
(May 23, 2023) – Today, another Alberta business group added its voice to a growing number of organizations that are concerned over NDP Leader Rachel Notley’s plan to impose 38 per cent tax hike on Alberta business and job creators.
“Today we are expressing our sincere concern about a proposed increase to Alberta’s corporate tax and the detrimental effect it will have on Alberta’s global competitiveness,” AEG said in a statement. “We are very worried that a 37.5 per cent increase in the provincial income tax rate may cost Alberta both investment and jobs across the whole economy with a negative impact on the petrochemical and clean-tech industries in particular. Global capital makes decisions based on global comparisons. The proposed tax increase does not make Alberta competitive with the US gulf coast and that is who Alberta competes with for these prosperity creating projects.”
“The bottom line is this: If we elect Rachel Notley and the NDP and let them impose this massive tax hike on our businesses and job creators, Alberta will lose jobs and investment. That hurts everyday families,” Fort McMurray-Lac La Biche UCP candidate Brian Jean said. “We can’t let the NDP destroy all the prosperity we’ve built over the past four years with their ideological and reckless tax hikes. We must keep moving forward.”
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 across Canada and North America. 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.
Read the statement from the Alberta Chambers of Commerce here
Read the statement from CLAC here
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