OTTAWA – While concerned about the amount of spending announced in Budget 2016 and the loss of key family tax credits, Bob Zimmer, Member of Parliament for Prince George-Peace River-Northern Rockies, is pleased to see that some key initiatives have remained intact.
“I am pleased to see that key initiatives that are important to our region have remained, including the continuation of the Accelerated Capital Cost Allowance for Liquefied Natural Gas Facilities and the extension of the Mineral Exploration Tax Credit,” said Mr. Zimmer. “The Accelerated Capital Cost Allowance in particular is something that I worked extremely hard on during the previous government and it is important to the future of the B.C. LNG industry that it continues.”
That said, Budget 2016 confirms that the Liberal government will cut important family tax credits and will break an important election promise for small business owners.
“I am concerned that the Liberal government has decided to cut to important family tax credits, including phasing out the children’s fitness and arts tax credits,” said Mr. Zimmer. “As a father of four children, I know how expensive extra-curricular activities can be, which is why I was so proud to support these tax credits during our time in government.”
Mr. Zimmer is also especially concerned that the Liberal government has kept the Small Business Tax Credit at 10.5%, instead of lowering it to 9% as promised during the election.
Despite spending nearly $30 billion in borrowed money, the budget also has no clear plan to help get unemployed Canadians back to work.
“Instead of increasing access to EI, the government should be focused on increasing access to good, stable jobs in Canada,” said Mr. Zimmer.
“The Conservatives left the Liberal government with a $3 billion surplus, and we focused on keeping taxes low and supporting policies that helped create more than a million jobs,” said Mr. Zimmer. “We know that low taxes, free trade and spending taxpayer money responsibility are what are necessary to create jobs and economic growth. I will continue to fight for the taxpayers who will be picking up the tab for today’s Budget spending spree.”
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