Edmonton, February 27, 2020 – The Canadian Federation of Independent Business (CFIB) welcomes today’s provincial budget that further builds on the government’s plan to get Alberta’s finances back on track.
“Today’s budget is very much a continuation of the province’s 2019-20 budget that took the first steps to get Alberta’s finances back on track”, said Annie Dormuth, Alberta Provincial Affairs Director. “The government’s focus on job creation and improving the economy is welcomed news to small businesses facing many cost increases and economic uncertainty.”
In a CFIB survey conducted following the 2019 budget, 85 per cent of Alberta’s small businesses agreed that tax relief, such as reducing the corporate income tax rate, is an important step to restoring the Alberta advantage. A further 83 per cent agree it would have a positive impact on Alberta’s economy over time. Tax relief, sustainable spending and red tape reduction are all needed to improve the province’s economy.
However, at a time when business owners can least afford it, we are concerned that educational property tax rates are going to continue to increase by 3.1 per cent for 2020-21.
During CFIB’s annual Red Tape Awareness Week, the government received its highest grade ever on our Red Tape Report Card of a B-. We are pleased to see in the 2020 budget the government reaffirm its commitment to red tape reduction, including, requiring all government ministries to identify ways to reduce the regulatory burden for all Albertans and small businesses.
The same post-budget survey showed that 95 per cent of small business owners in Alberta support the government reducing operational spending by 2.8 per cent over the next four years. The 2.8 per cent reduction is a good start considering 13 of the last 17 provincial budgets increased operating spending beyond inflation and population growth.
“Thankfully, this government’s first two budgets pass the CFIB’s fiscal fitness test for sustainable spending,” concluded Dormuth.
For media inquiries or interviews, please contact:
Alberta Provincial Affairs Director
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry and region (10,000 in Alberta).. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.