MPs Agree: Ottawa’s Proposed Tax Plan Stinks

The Background 

Provincial leaders on opposite sides of the political spectrum are united in their criticism of Ottawa’s proposed tax changes. (That’s when you know it’s bad.) During the First Ministers’ meeting in Ottawa yesterday, Manitoba PC Brian Pallister and B.C. NDP Premier John Horgan confronted the Liberals’ on their plan to rollback small business tax loopholes. Pallister panned the idea as provoking “class warfare” while Horgan said many B.C. entrepreneurs still don’t get what’s in it for them. The contentious issue wasn’t originally part of the agenda, but it was added because of mounting backlash from business owners across the country. Other issues tackled at Tuesday’s meeting included NAFTA, Indigenous issues and pot. CBC

What Else You Need to Know

It looks like the criticism worked. Last night, Finance Minister Bill Morneau said the Liberals would be reevaluating their tax plan after they received quite a bit of backlash from both members of government and Canadian citizens. According to Morneau, the plan requires changes to make sure that it’s fair and encourages investment.

What’s Next?

The government plans to review the feedback they received over the past 75 days (a consultation period) and will provide an update (and clarity for small business owners) as soon possible. (Get on that, would ya?)