NDP Finance Critic Michael Prue reminded Ontarians about the dangers of the HST today.
"McGuinty's unfair tax scheme will make it harder to make ends meet and to find a job," said Prue. "The Premier and his own experts agree – at least they used to."
Prue noted that in a previous study Jack Mintz said the HST would slow job growth:
“These more positive results would come at the cost of a longer and deeper period of short-term loss, including, for example, an estimated reduction of just under 38,000 jobs in the second year.” (CD Howe Institute, Sep. 2008, p. 20)
And Jack Mintz said the HST would drive down real wages:
“After several years of somewhat higher unemployment, however, workers come to accept the real wage losses…” (CD Howe Institute, Sep. 2008, p. 9)
Of course, Dalton McGuinty said the HST was a bad idea too:
“Cutting corporate taxes will create more financial trouble by starving the provincial treasury of much-needed revenue, and harmonizing the sales taxes will only end up hurting consumers.” (Nov. 25, 2008)
And also said the corporate tax cuts he now supports were a bad idea:
“…what the Conservatives are asking us to do is to cut corporate income taxes – those are taxes on profitable corporations – by $2.3 billion…That definitely means closing hospitals, firing nurses, cutting education.” (Mar. 20, 2008)
...that had "nothing to do" with jobs:
“Since the last budget, Ontario has lost 30,000 jobs. We've had the slowest rate of growth in the country. Your predilection for this corporate tax cut has nothing to do with economic policy and everything to do with ideology.” (Nov. 27, 2001)
Then again, Liberals used to denounce Jack Mintz as an "Alberta academic" whose ideas "didn't work":
“…We don't agree with Mr. Mintz…Our taxes were the ones that were recommended to us by Ontario businesses, not by Alberta academics. That old neo-conservative attitude didn't work. (McGuinty Finance Minister Dwight Duncan, Sep. 28, 2008)
Filed Under: Michael Prue | Jobs and the Economy | Finance
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