Thank you, Mr. Speaker. A few years ago we were able to lower the corporate income tax rate to give the corporate sector a break and to also use it as a way to stimulate our economy. We also lowered the tax rate for small businesses, which continues to be in effect. That worked a few years ago. It doesn't work any more because of the rebasing of the financing formula. I think Mr. Roland has explained how that works. In fact, it has become a perversity in our formula, so we have had to increase it in order to not lose money as our economy grows. It's not being done to punish the corporations, but simply because we would lose money with economic growth if we didn't bring the corporate tax rate up because of the way our formula is structured. Thank you, Mr. Speaker.
Joe Handley on Question 82-15(3): Forging A New Relationship With The Federal Government
In the Legislative Assembly on March 25th, 2004. See this statement in context.
Further Return To Question 82-15(3): Forging A New Relationship With The Federal Government
Question 82-15(3): Forging A New Relationship With The Federal Government
Item 7: Oral Questions
March 24th, 2004
Page 303
See context to find out what was said next.