Canada’s Government Low-tax Plan Creating Jobs and Economic Growth

The economy remains our Government’s number one priority. We are keeping taxes low for job creators to grow our economy and create jobs for Canadian workers.

Canada’s Government is highlighting the advantages of Canada’s open markets and low taxes for job creators, which encourage global business investment. These advantages include:

  • the lowest overall tax rate on new business investment among the major developed economies (G-7);
  • the lowest debt and deficit of those major economies;
  • the world’s soundest banking system, according to the World Economic Forum;
  • among the fastest economic growth in the G-7, which is projected to continue into the future, according to the International Monetary Fund;
  • the most skilled workforce, with the highest proportion of post-secondary graduates in the Organisation for Economic Co-operation and Development;
  • eliminating tariffs on manufacturing inputs and equipment, which will make Canada the only tariff-free zone for industrial manufacturers in the G-20 by 2015;
  • the most generous research and development tax incentives in the industrialized world; and
  • an outstanding quality of life, with safe streets, a high standard of living, universal health care, a sound educational system and a beautiful natural environment.

We are ensuring that hard-working Canadian entrepreneurs have greater opportunities to grow their businesses by reinvesting in them. That’s helping businesses create more and better-paying jobs, which is good news for the economy and good news for Canadian families.

Since taking office in 2006, the Harper Government has pursued an ambitious free trade agenda. In just five years, Canada has concluded free trade agreements with eight countries: Colombia, Peru, Jordan, Panama and the four member states of the European Free Trade Association: Iceland, Liechtenstein, Norway and Switzerland, and is currently in negotiations with close to 50 countries. The Harper Government is also negotiating economic partnerships with two of the world’s largest economies: the European Union and India.

For further information, visit: www.actionplan.gc.ca.