(November 16 – 10:00 ET) –
Laurentian Bank has added
its voice to the chorus calling for
tax relief from the federal
government.
Simon Prévost, Laurentian’s
spokesperson on economic issues,
presented the bank’s
recommendations to the Chamber of
Commons’ Standing Committee on
Finance which is now in the midst
of its pre-budget consultation.
Laurentian argues that the tax
burden on individual taxpayers has
been growing. “There is an urgent
need to cut the taxes paid by
individuals…to correct the
imbalances and deleterious side
effects of an excessively high tax
rate and generate economic growth.”
Prévost recommended a
three-year tax reduction plan,
including indexation of taxation
parameters, a cut in Employment
Insurance contributions, a decrease
in the marginal tax rates and the
elimination of the 5% federal
surtax.
-IE Staff
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