Hon. Alice Wong, P.C.

On May 10, 2016, Alice Wong asked two questions in the House of Commons on the topic of Small Business.

The following is a transcript:

Hon. Alice Wong (Richmond Centre, CPC):
Mr. Speaker, the decision of the Liberals to increase the small business tax rate is proving worse and worse. Last week, I asked why the Liberals broke their promise to our small businesses. This broken promise will cost the industry $2.2billion.

Why do the Liberals continue to abandon our hard-working small business owners?

Hon. Bardish Chagger (Minister of Small Business and Tourism, Lib.):
Mr. Speaker, on January 1, the tax rate for small businesses was reduced. Today the parliamentary budget officer confirmed that the decision to maintain the reduced business tax rate was the right one.

The report confirmed that the previous government’s approach would have created just over 1,000 jobs at a cost of almost $2.1 billion to the economy with no growth to the economy.

It is important that we support our small and medium-sized businesses. I am here to ensure they are productive, more innovative and export oriented. We will continue to do the work we are doing.

Hon. Alice Wong (Richmond Centre, CPC):
Mr. Speaker, I wish Liberals understood small businesses, but the facts just do not support that.

A report from the parliamentary budget officer today indicated that in addition to the $2.2 billion cost to the industry, the changes to the small business tax rate would actually cost jobs. When will the Liberals stop punishing small businesses?

Hon. Bardish Chagger (Minister of Small Business and Tourism, Lib.):
Mr. Speaker, I would like to thank the budget officer for offering his projections to Canadians and parliamentarians.

In a previous report, the budget officer’s verdict was that our budget as a whole would have significant positive impact on the Canadian economy and create tens of thousands of jobs.

As a whole, budget 2016 proposes targeted investments, totalling $50.2 billion. Small business is implicit throughout the entire budget. Small businesses are the backbone of the economy. They are our job creators, and we support small business.

Filed under: Parliament, Small Business, Video