By Bruce Campion-Smith Ottawa Bureau Thu., Nov. 22, 2018 OTTAWA—Finance Minister Bill Morneau is defending his government’s big tax breaks to corporate Canada, saying that Ottawa had to act or risk losing business investment to the U.S. Confronting criticism that Wednesday’s economic update was too focussed on business priorities, Morneau said that ensuring Canada remains competitive in the face of big corporate tax cuts south of the border is critical to the country’s economy and job creation. But he said that the Liberal government is mindful that it has more work to do to address the needs of low-income and middle-class Canadians. “We know there is always more to do in that regard, but we can’t forget that, for a significant number of people, we’ve got to find the right jobs for the future,” Morneau told the Star. The federal Liberals used this week’s economic update to deliver tax changes to allow … [Read more...] about Finance Minister says corporate tax breaks needed to stop Canada losing business dollars to U.S.
Labour corporation tax
Technology A Labour government would aim to shake up Britain's media by levying a tax on big tech firms like Google and Facebook to help fund public interest journalism, party leader Jeremy Corbyn said on Thursday. 23 Aug 2018 07:30PM Bookmark EDINBURGH: A Labour government would aim to shake up Britain's media by levying a tax on big tech firms like Google and Facebook to help fund public interest journalism, party leader Jeremy Corbyn said on Thursday.The tax would also help fund the introduction of a digital BBC licence fee to supplement the current fee and reduce the cost for poorer households.Without major changes to Britain's media sector a "few tech giants and unaccountable billionaires will control huge swathes of our public space and debate," Corbyn told the Edinburgh TV Festival.He appealed for bold thinking to address what he called a public crisis of trust in media in the era of "fake news"."A digital licence fee, supplementing the existing licence … [Read more...] about UK opposition Labour proposes tax on tech giants in media shake-up
By Robert Benzie Queen's Park Bureau Chief Sun., April 22, 2018 One of the Greater Toronto Area’s most influential business groups is urging Ontario’s political parties to cut taxes to help companies be more competitive. In a new pre-election report to be released Monday, the Toronto Region Board of Trade says that “while Ontario consistently ranks as one of the best places to live, we don’t rank as highly in the cost of doing business.” “Businesses benefit from Ontario’s diverse and educated workforce, but face barriers due to housing affordability, rising electricity prices and poor (research and development) investment,” says the eight-page study. “The recent government decision to sharply increase the minimum wage over a very short time and raise payroll taxes only increases the pressure to keep costs down, particularly for small businesses.” Jan De Silva, the board’s president and CEO, said … [Read more...] about Cut taxes for Ontario businesses, Board of Trade urges
Asia Pacific Australian Prime Minister Malcolm Turnbull has been forced to delay introducing a bill to cut corporate tax due to a lack of Senate support, denying him a much-needed political victory as he struggles with poor polling a year from an election. 28 Mar 2018 01:00PM Bookmark SYDNEY: Australian Prime Minister Malcolm Turnbull has been forced to delay introducing a bill to cut corporate tax due to a lack of Senate support, denying him a much-needed political victory as he struggles with poor polling a year from an election.The conservative leader wanted to cut the corporate tax rate to 25 percent from 30 percent this week to shore up his white-collar base, after back-to-back scandals left him without several members of his ministry.But Finance Minister Mathias Cormann told the upper house late on Tuesday he would now introduce the tax cut bill in the next week of parliament, which is scheduled for May, after failing to get the necessary votes from two independent … [Read more...] about Embattled Australian PM Turnbull forced to delay tax cut
Beneath its modern and glitzy exterior, Singapore is aging.For the first time in its short history, the Southeast Asian nation is expected to have as many people aged 65 and older as under 15 this year, a demographic crux that challenges the low-tax economic model that helped transform Singapore from port town to financial hub in a matter of decades.Top government officials have been signaling the need for higher taxes to support future social spending, and with the country forecasting a primary deficit in 2017 that would be the largest in at least 16 years, changes are expected as soon as the budget on Feb. 19.The city-state has some of the lowest tax rates in the world, with room to adjust parts without risking its competitiveness, but not even its citizens, who stand to be better supported by welfare changes, welcome higher taxes.A recent study by the Institute of Policy Studies (IPS) showed Singaporeans would rather the government dip into its national reserves than raise taxes.But … [Read more...] about As Singapore ages, its low tax model creaks