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Corporate tax relief no 'magic' solution: Ignatieff
OTTAWA ` Liberal Leader Michael Ignatieff tried to debunk Wednesday findings from the Canadian manufacturing lobby on the positive impact corporate tax cuts would have on employment levels and business investment, saying tax relief does not represent a `magic` solution.
Cutting business taxes would do nothing more than fatten corporate profits, he told reporters on Parliament Hill ahead of a tour of 20 ridings he is set to visit, with the hopes of winning those seats in a coming election, whenever that may be. He was reacting to analysis released by the Canadian Manufacturers and Exporters that called on Ottawa to press ahead with corporate tax cuts as planned because the measures stand to create in 2012 alone 49,000 jobs, spur new investment of roughly $3-billion and add $440 to individuals` wallets.
`Corporate tax cuts don`t necessarily create jobs. They add to [corporate] bottom lines and don`t necessarily create investment,` Mr. Ignatieff said, adding later tax cuts are no `magic` job creator.
Read the full article here.
OTTAWA ` Liberal Leader Michael Ignatieff tried to debunk Wednesday findings from the Canadian manufacturing lobby on the positive impact corporate tax cuts would have on employment levels and business investment, saying tax relief does not represent a `magic` solution.
Cutting business taxes would do nothing more than fatten corporate profits, he told reporters on Parliament Hill ahead of a tour of 20 ridings he is set to visit, with the hopes of winning those seats in a coming election, whenever that may be. He was reacting to analysis released by the Canadian Manufacturers and Exporters that called on Ottawa to press ahead with corporate tax cuts as planned because the measures stand to create in 2012 alone 49,000 jobs, spur new investment of roughly $3-billion and add $440 to individuals` wallets.
`Corporate tax cuts don`t necessarily create jobs. They add to [corporate] bottom lines and don`t necessarily create investment,` Mr. Ignatieff said, adding later tax cuts are no `magic` job creator.
Read the full article here.