Lowering the corporate tax rate to 10 per cent immediately, and to 8.5 per cent after the budget is balanced in 2016 is at the centre of the PC tax plan. Instead of helping only a few companies with grants the way the Liberals do, argue the Conservatives, they’d give all companies a break by lowering the general tax rate. That would take about $600 million out of the province’s coffers this year, and $1 billion by 2017, according to the PC platform. Critics point out that Ontario already has a relatively low corporate tax rate in North American terms, while others argue that companies don’t necessarily use tax savings to create more jobs. However, the PCs are also promising to lower personal income taxes by an average of 10 per cent starting in 2018.
Seriously, can anyone read? They are going to balance the book by reducing their income. How can anyone look at this and say “this is sound fiscal policy”