Thursday
Oct152015

In their own words: What the local candidates are saying to the business community

On Monday, October 19, 2015 Canadians will be voting in the 42nd Federal Election.  The Peterborough Chamber of Commerce asked the candidates for Peterborough-Kawartha riding five questions of local business significance.  The final question, "What is your personal statement to the Peterborough business community?" is answered here: 

Maryam Monsef, Liberal: Peterborough Kawartha’s business community is a key contributor to both the quality of life and standard of living in our area. Through the efforts of our entrepreneurs, wealth and jobs are created in the community. Beyond their financial impact, our businesses contribute to the social and cultural fabric of our region. They regularly and generously support community groups working to enhance the lives of our friends and neighbours. Their philanthropic efforts also have a positive impact on individual lives within our community.

Government needs to be a partner with our business community. It has an important role to play in supporting businesses through the creation of favourable conditions that allow them to create wealth and jobs.

In my view, government needs to concentrate on four key areas to assist businesses in job creation.

These include:

  • Establishing a competitive tax environment that encourages investment in innovation, technology and the development of new markets
  • Pursuing smart regulations that protect the environment, labour standards, and safety without placing an unnecessary regulatory burden on businesses
  • Investing in key economic infrastructure such as transportation, serviced industrial land, postsecondary education and the development of workers' skills, and
  • Assisting businesses with access to debt and equity capital that will help them reach new 
  • markets, adopt innovative processes and products, and establish new or expanded operations.

As your Member of Parliament, I would work diligently with you to build a Peterborough where our children and grandchildren will enjoy a positive social and economic future. 

Michael Skinner, Conservative: I strongly believe in supporting Job Creators and our local businesses.

In addition to supporting the development of skills training, our Government also recognizes the value of businesses and job creators in the long-term health of the Canadian economy. It’s not by chance, that Canada is consistently ranked one of the best countries in the world to do business. Our Government has taken significant steps to provide incentives and tax relief for job creators that contribute to Canada’s job and economic growth.

The Conservative Government knows that the vast majority of jobs are created by small businesses and entrepreneurs. 

Canada’s small business owners and entrepreneurs are creating jobs and building wealth across the country. Small businesses make up 98% of all companies in Canada, employing nearly 70% of the private sector labour force and contributing nearly 40% to the GDP.

As a leading job creator in Canada, small businesses are essential to Canada’s overall prosperity.

Our Government is committed to doing everything it can to support small businesses and entrepreneurs to do what they do best, recognizing market needs and creating goods and services to meet those needs. 

I am proud that the conservative government has accomplished the following: 

  • Since 2006, our Government has reduced the corporate income tax rate for job creators from 21% to 15%, the lowest overall tax rate on new business investment in the G7.
  • We reduced the small business tax rate from 12% to 11%, and we will reduce it to 9% by January 2019, the largest tax rate cut for small businesses in more than 25 years.
  • We created the Venture Capital Action Plan to help increase private sector investment in innovative businesses; the plan has made up to $350 million available to establish up to four large-scale private sector-led funds.
  • We created a new late-stage venture capital fund to support entrepreneurs.
  • We made an aggregate investment of up to $50 million in established high-performing venture capital funds in Canada.
  • We created and extended the temporary Hiring Credit for Small Business to help small businesses by defraying the costs of hiring new workers.
  • Our Small Business Job Credit is reducing the federal EI premiums paid by small businesses in 2015 and 2016 by 15%, saving small businesses more than $550 million over two years.
  • We are providing entrepreneurs seeking to export to emerging markets for the first time with direct financial support.
  • We are supporting incubator and accelerator organizations to expand their support to entrepreneurs with $100 million through the Canada Accelerator and Incubator Program.

I believe jobs and our economy must be our number one priority. I also believe in the Conservative government’s proven track record of stability over risky change.

David Nickle, NDP:  The NDP is committed to the success of small and medium sized businesses which are responsible for nearly 40% of Canada’s GDP and employ more than 7.7 million Canadians. The NDP have proposed to cut the small business tax rate from 11 per cent to 9 percent to better support a sector of our economy that creates 78% of all new private sector jobs in Canada. The NDP will start with an immediate reduction from 11 to 10 percent, injecting some $600 million into Canada's small businesses - followed by an additional reduction to 9 percent in the second year of our mandate. Once fully implemented this will cut small business taxes by nearly 20 percent.

The candidates also answered this question at the Chamber's PBX at The Junction on Tuesday, October 6, 2015.  Listen to their answers and read the answers to all five business related questions online at:

peterboroughchamber.ca/federal-election-2015.html

While you're on the Chamber website reading about the candidates, check out the rest of the election tool kit, including a link to Elections Canada and information on the business platforms of the Canadian and Ontario Chambers of Commerce.    

Election Day is Monday, October 19, 2015.  

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