Mr. Chairman, I don't see any disadvantages other than the fact that people don't like to pay taxes. But the fact of the matter is, last year we instituted a payroll tax which was placed upon employees and we didn't touch corporate income taxes. This year, we're looking to the corporations to donate a little more into our budget. I don't have to tell everybody in this room that there are constant suggestions in this House and outside this House for new ways to spend money. If we're going to have to spend those dollars, then we're going to have to get them from somewhere. This year it looked to me like it was a fair deal to put two per cent on the corporate income tax of these large corporations, simply because we were the lowest in Canada, except for Quebec. So I don't think there's going to be any disincentive to large corporations in the Northwest Territories. Thank you, Mr. Chairman.
John Pollard on Bill 15: An Act To Amend The Income Tax Act
In the Legislative Assembly on March 25th, 1994. See this statement in context.
Bill 15: An Act To Amend The Income Tax Act
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
March 24th, 1994
Page 862
John Pollard Hay River
See context to find out what was said next.