[Ontario’s Bold move to create jobs and growth]
[Report by Jack Mintz]
[November 4, 2009]
[Dr.Jack Mintz]
[Palmer Chair of Public Policy, University of Calgary]
And what we forecast is that over the next ten years, five hundred ninety one thousand jobs will be created as a result to these budgetary changes. People are going to be a lot better off, incomes arise – four point four to eight point four percent. I think the Ontario budgetary changes are going have a very important impact in helping grow the economy faster and to get out of this significant change that has occurred as a result of the global recession.
“For many years I’ve talked about the importance of sales tax harmonization and corporate tax cuts and the Ontario budget certainly did deliver a very fundamental reform here in Ontario. The effective tax rate on new investment in Ontario is going to plummet as a result of both sales tax harmonization, corporate tax cuts and other tax changes that are occurring, both at the federal and provincial level. And in fact its going to cause capital investment to, over the next ten years too rise by about forty seven billion dollars.”
[Ontario.ca/taxchange]