Small and medium-sized business owners in New Brunswick are calling on the provincial government to move beyond its current policy focusing exclusively on one tax relief measure and address the total tax burden.
This is the major finding of CFIB’s pre-budget survey of its New Brunswick members, which formed the basis of the federation’s submission to the government. Over the last two years small businesses have faced increased costs in the form of higher property taxes, gas and diesel taxes, the land transfer tax, personal income taxes, minimum wage and the hike of the Harmonized Sales Tax. Business owners know that additional costs headwinds are present over the horizon. Minimum wage is scheduled to increase, employment insurance rates are going up for small businesses, workers compensation premiums are climbing, Canada Pension Plan premiums will go up and a carbon tax will be imposed all within the next two years.
“It’s no surprise that 78 per cent of entrepreneurs say the provincial government has been ineffective in addressing the provincial portion of the total tax burden ” said Louis-Philippe Gauthier, Director of Provincial Affairs. “New Brunswick small businesses are clear in their message, reducing the total tax burden is the most important action government can take to help support small business and entrepreneurship”.
78 per cent of business owners say the provincial government has not yet succeeded in boosting their confidence with the policies it has undertaken to create a more small business friendly environment.
As part of its pre-budget submission, CFIB provided seven recommendations to government:
- Reduce the total tax burden of small businesses.
- Represent the interests of New Brunswick small business when the federal government proposes new policies by insisting on transparent economic impact analysis before adoption.
- Balance the budget.
- Reduce the size of government.
- Restrain proposed new capital spending.
- Adopt legislative changes restoring stability to workers compensation assessment rates.
- Adopt legislative changes that reduce average worker’s compensation assessments rates.
The submission and recommendations were presented to the Finance minister and the official opposition.
For more information, please contact Louis-Philippe Gauthier, Director of Provincial Affairs for New Brunswick, at 1 506 961-5706 or by email at [email protected]
CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region, including 5,000 in New Brunswick.