The Board of Trade does not support a tax increase

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Added on 3 October 2012 in Press releases

 

Press release

The Board of Trade does not support a tax increase

Montréal, October 3, 2012 – After the government’s announcement of aggressive taxation on high income, dividends and capital gains, a number of rumours are circulating and the Board of Trade of Metropolitan Montreal would like to clarify its position.

“In the past few days we have had discussions with the Minister of Finance and Economy about the negative economic impact of implementing the announced measures,” says Board of Trade President and CEO, Michel Leblanc. “These discussions were positive, in the sense that the Minister was open-minded and said he intended to move quickly to quiet the business community’s fiscal anxiety.”

“A rumour has started that the Board of Trade supports an increase in the marginal tax rate for the most affluent,” Mr. Leblanc says. “That is not true. The Board of Trade believes that in crossing the psychological threshold of 50%, the increases proposed by the government threaten the competitiveness of Quebec’s fiscal framework. These increases are unacceptable for the city’s business community.”

“Solidarity is already alive and well in the Quebec tax system,” Mr. Leblanc says. “We encourage the Minister to find other solutions to make up for the elimination of the health tax. We call on the government to study its budget items to reduce its spending.”

 

About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.

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Source :
Sylvie Paquette
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Phone: 514-871-4000, extension 4015
spaquette@ccmm.qc.ca

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