IE Staff
(November 3 – 09:10 ET) – Paul Martin’s economic statement is “a watershed,” say the economists at Nesbitt Burns. The brokerage is encouraging the Finance Minister to follow through with tax cuts.
Nesbitt is calling for a phased-in $20 billion tax cut, including a 3% drop in federal income tax rates for all income tax brackets.
NB is also encouraging:
-raising the bracket thresholds
-a return to full inflation indexation
-the elimination of the 5% “high-income” surtax
-further cuts to Employment Insurance premium rates
Nesbitt estimates that their plans would create 450,000 new jobs within five years, boost income by at least $2,000 per household on average, an average 4% pay raise for everyone in the country.
-IE Staff
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