Skip to main content

NDP Leader Tom Mulcair speaks during a campaign stop at Bienenstock Natural Playgrounds in Dundas, Ont., on Tuesday, August 25, 2015.

Frank Gunn/The Canadian Press

An NDP government would not need to run a deficit to finance its promises, leader Thomas Mulcair said Tuesday.

Despite the low price of oil and Monday's tumultuous day on the markets, Mr. Mulcair said he does not foresee having to go into the red.

"We're of course going to finish the fiscal year on Mr. Harper's watch — 2015-16 is his budget, but our first budget will be a balanced budget," he said, speaking at a small business that makes natural playground equipment.

Story continues below advertisement

"We know because we've got a lot of experienced people that governing is about priorities. Our priorities are not the same as Mr. Harper's."

Mr. Mulcair has not yet released the full costing details of his platform.

He blamed Mr. Harper for manufacturing job losses and a less diversified economy.

The parliamentary budget office released an analysis last month based on downgraded Bank of Canada projections that showed Ottawa is headed for a $1-billion shortfall in 2015-16, despite the long-standing Conservative promise to balance the books.

If the bank's growth forecast is right, the $1.4-billion surplus the Conservatives projected in the 2015 budget could become a deficit, since federal coffers would be $4.1 billion slimmer, according to an analysis in the April budget.

Mr. Mulcair touted his plan to cut the small business tax rate from 11 per cent to nine per cent, which he says would be fully implemented in the first two years of an NDP government, as a job creation tool.

It would cut small business taxes by almost 20 per cent and save small business owners about $1.2 billion each year, the NDP said.

Story continues below advertisement

Mr. Mulcair has said he will raise taxes for larger corporations, but he has been adamant that he won't increase other taxes or impose a wealth tax.

He hasn't yet said how high he would raise the rate — currently at 15 per cent — but said it will be "reasonable" and will be below the American rate and the average rate under the Conservatives, which is 17.5 per cent.

"Mr. Harper has taken an approach, he's following in the footsteps of the Paul Martin Liberals and it's the same mistake," Mr. Mulcair said.

"Giving tens of billions of dollars in tax reductions to Canada's richest corporations didn't create jobs."

Report an error
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter