Thank you, Mr. Chair. Just with respect to Bill 20, An Act to Amend the Income Tax Act, it is a race to the bottom that concerns me. I would like to have a little bit more discussion with the Minister. I was doing some reading of the latest issue of the Fraser Forum with regard to tax rates in other jurisdictions, particularly in all of our provinces in Canada. It looks like everybody is trending downwards. Even though we are going to 11.5 to be fairly competitive and attract businesses here, they are saying that other provinces are trending even further downwards, like towards eight percent, even Alberta. I don't know if the Minister can comment on that, if he has heard of it. That is what this article was saying. If that happens, then 11.5 will be on the high end again, Mr. Chair. Does that mean we are going to lose out on potential clients and potential revenues? I was just wondering how the Minister or the ministry sees the downward spiralling of all of the income tax rates in Canada. Is this truly, 11.5 percent, the low rate today, or are other legislatures sitting as we are today and reducing their rates? Is this a true reflection? Is this a true strategy? That is probably it, Mr. Chair. Is this a good strategy to maintain as much revenue from businesses that want to claim income tax rates outside of our territory? Thank you.
Kevin A. Menicoche on Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 28th, 2006. See this statement in context.
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
February 27th, 2006
Page 1448
See context to find out what was said next.