Debates of June 17, 2016 (day 23)

Topics
Statements

Member’s Statement on Reduced Tax Rates to Support Small Business

Mr. Speaker, small business is the life blood of a diverse and thriving community. How well our economy is doing should be measured by private sector growth and job creation outside of the public service. Growing our private sector will increase competition and productivity, and give Northerners more choice for goods, services, and employment. These are real opportunities that this government cannot afford to ignore. Mr. Speaker, this government has many programs that assist small businesses, but it needs to do more. Only by changing the foundation of our economy can we move forward. One solution is very simple: the government must send a strong signal that the NWT is open for business. Today, I am asking the government to keep its promise to Northerners and cut the tax rate for small businesses and make the NWT the most tax competitive jurisdiction in Canada’s north. No one can deny that small businesses create jobs, and in this year alone I have seen that happening all over my home community here in Yellowknife. From the restaurants now offering world-class gourmet fare, a brewery that soon will be expanding production, and a farmer’s market that contributes nearly $1 million per year to the local economy, it is an easy thing to take pride in seeing all these entrepreneurs succeeding. I want to ensure this success and help all businesses reach their full potential and keep investing locally. Mr. Speaker, this government ought to listen to local advocates for business. Yesterday, I tabled a letter from the Yellowknife Chamber of Commerce supporting a tax cut for their members and for all businesses here in the NWT. I want to thank the chamber for their advocacy and again ask that this government be clear on delivering on its promise to cut taxes for small businesses. Economic uncertainty is rife throughout the NWT, Mr. Speaker, both due to commodity prices and because of this government’s unpredictability in its relationship with the private sector. That’s why we need to assure potential investors and entrepreneurs that we are open for business and this is the best Northern territory to invest in. Mr. Speaker, let’s be smart on our tax policy and provide the fuel for sustainable economic growth. Thank you, Mr. Speaker.