Dear John,

Today, the Fraser Institute released a new study, Will Cutting Income Taxes Create Jobs for Canadians? [[link removed]]

This study finds that if the federal government reduced the top personal income tax rate from 33 per cent back down to 29 per cent (the rate before the 2016 tax hike), it would facilitate the creation of approximately 110,000 private-sector jobs the following year.

Below is the news release and accompanying infographic. Please share with your colleagues and friends.

Best,

Niels

Niels Veldhuis | President

The Fraser Institute

1770 Burrard Street, 4th Floor, Vancouver, BC V6J 3G7

Federal income tax rate reduction could help create 110,000 new private sector jobs in Canada

VANCOUVER—By reducing personal income tax rates, the federal government could facilitate the creation of 110,000 new private sector jobs, finds a new study released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank.

“Due to the unprecedented job losses caused by COVID-19 and the lockdowns, governments must enact polices to help grow the economy and create jobs, and tax policy is a good place to start,” said Ergete Ferede, professor of economics at MacEwan University and author of Will Cutting Income Taxes Create Jobs for Canadians? [[link removed]]

Higher income tax rates reduce after-tax income, reducing the incentives to work and discouraging entrepreneurship, which hurts private-sector job creation.

According to the study, if the federal government reduced the top personal income tax rate from 33 per cent back down to 29 per cent (the rate before the 2016 tax hike), it would facilitate the creation of approximately 110,000 private-sector jobs the following year.

“If Ottawa wants to encourage private sector job creation and help spur the COVID recovery, it should consider reducing the top personal income rate.”

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