How federal politicians court small business

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Some of the ways the major political parties are courting the small-business community.

Conservatives

• The government has lowered the small-business tax rate to 11 per cent and raised the income threshold for that rate to $500,000 from $300,000.
• Announced $3.5 million in renewed funding for the Small Business Internship Program, while earmarking $20 million over the past two years for the Canadian Youth Business Foundation.
• The Red Tape Reduction Commission was struck earlier this year, and it will provide an interim report in the spring and a final report in the fall.

Liberals

• MP Navdeep Bains, the Liberal critic for small business, will introduce a private members bill on Wednesday dubbed the “Red Tape Review and Reduction Act.”
• The Liberal party’s key policies outlined during its recent “Working Families Tour” include strengthening the Canada Pension Plan with a gradual increase in benefits, while creating a new Supplemental CPP to allow Canadians to “top-up” their savings.
• A youth employment incentive to encourage small and medium-sized businesses to hire hiring young workers by eliminating the EI premiums for each new one they hire.

Bloc Québécois

• Its federal budget proposals include the creation of a new program to help small and medium-sized businesses that would cost the federal government a total of $250-million – including $57.5 million to benefit Quebec.
• A $50-million economic diversification program for forestry regions.
• An $830-million development plan for the manufacturing sector. Of that total $259 million would directly benefit Quebec.

NDP

• According to its website, the NDP would clarify tax laws and succession rules.
• Boost technical and financial support through the Business Development Bank of Canada and Community Futures Development Corporation.
• Provide incentives to promote “value-added processing and innovation” for emerging sectors.