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» babble   » from far and wide   » nfld, labrador, pei, ns, nb   » New Brunswickers can expect to be worse off after tax reforms

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Author Topic: New Brunswickers can expect to be worse off after tax reforms
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posted 15 July 2008 07:54 AM      Profile for jrose     Send New Private Message      Edit/Delete Post  Reply With Quote 
Majority of New Brunswickers can expect to be worse off after proposed tax reforms

Linked from rabble's In Cahoots section:

WOODSTOCK, N.B. – Proposed tax reforms will increase the burden on middle and low income taxpayers in New Brunswick – so says a report presented today by Paul Moist, national president of the Canadian Union of Public Employees (CUPE), at the public consultations on the proposals.

Moist detailed for the panel how the tax reforms will harm – not help – the province. The report uses charts and figures to illustrate the punitive nature of the reforms on middle and low income New Brunswickers.

”Behind the rhetoric of Shawn Graham’s Liberals is a flawed direction: for a majority of New Brunswickers – 60% of the lowest and middle income households – these reforms represent a combined burden of higher taxes and reduced services. What’s more, they deprive the government of well over 150 million dollars of annual revenue. The shortfall will have significant impact on competition and the condition of public services – notably health and education – as well as provincial infrastructure,” says Moist.

”The CUPE study shows that the 20% of lowest income households would see their financial burden increase by an average of $565/year while a majority would be worse off by an average of $500/year. Yet the 20% of highest income households will benefit from tax reductions to the tune of $5,377/year. A person earning $300,000 a year could see reductions of $18,400. It’s hard to imagine tax reforms that are more regressive or less equitable.”

CUPE says the Graham government is also taking the wrong road by prioritizing tax relief for businesses – the Minister of Finance stated a year ago that ”New Brunswick is the province where tax rates for business are the lowest in Canada.”

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