Edmonton, AB (March 5, 2019) – The NDP has no credibility when it comes to corporate tax revenue in Alberta.
Yesterday, speaking at Edmonton’s Fantasyland Hotel, NDP Premier Rachel Notley claimed that the UCP Job Creation Tax Cut would “blow about $4.5 billion hole in our budget over four years.”
The reality is that Alberta corporate tax revenues are actually $8.8 billion lower than what the NDP promised Albertans in their platform:
The NDP raised the corporate tax rate by 20 per cent, from 10 to 12, driving jobs and investment out of the province, thereby reducing tax revenue for needed services.
An econometric analysis of the UCP Job Creation Tax Cut conducted by University of Calgary economist Dr. Bev Dahlby estimates that corporate tax revenues would decline by $348 million in year one (full-year impact), but by 2023-24 total revenues of the Government of Alberta would be $1.2 billion higher than in the base case because higher output increases other taxes and other sources of revenue.
The United Conservative Job Creation Tax Cut has been praised by experts. It is expected to create at least 55,000 jobs, and grow Alberta’s economy by $13 billion.