The provincial Liberals are renewing calls for a cut in the tax rate imposed on small businesses.
They want the rate cut in half.
Attempts to include the tax break in a motion introduced at Queen’s Park on Monday failed to find support from Progressive Conservatives.
Finance critic Stephanie Bowman now plans to reintroduce a Private Member’s Bill that was also rejected by the PCs in the last session.
“This bill, had it passed last year, would have provided meaningful tax relief up to $18,000 to those 450,000 small businesses,” says Bowman.
“And they need it now more than ever as we face major economic headwinds from the U.S. tariffs.”
Bowman adds that with Ontario’s unemployment rate being the second highest in the country, the Ford government should be doing everything necessary to keep workers from becoming unemployed.
She also notes that the number of small businesses filing for bankruptcy or restructuring to keep afloat is up 20%.
“I’m calling on government members to spare a few bucks and share a little love to help our small businesses here in Ontario.”
Bowman says she would be happy if a tax cut was included in the provincial budget.
It is to be released on May 15th.
