The National Post’s Graeme Hamilton rounds up five things that are likely to be priorities for a new Liberal government, based on the party platform and comments made during the campaign by leader Justin Trudeau.
1. Tax cut for the middle class
Leader Justin Trudeau said a Liberal government’s first piece of legislation would cut income taxes for Canadians earning between $45,000 and $89,000 a year. The promised reduction in the middle income tax bracket to 20.5 % from 22% would reduce the annual tax burden by up to $670 per person, the party platform says. But in order to cover the projected loss of tax revenue the Liberals are asking “the wealthiest one percent of Canadians to give a little more.” A new federal tax bracket of 33% for people making more than $200,000 a year would push the combined federal-provincial income tax rate above 50% in some provinces for the wealthiest.
– Read the entire article at National Post.