Categorized | Canadian Politics

Liberal tax hike threatens jobs for Ottawa’s high-tech businesses: Poilievre

Posted on 25 February 2016 by admin

Conservative Member of Parliament for Carleton, Pierre Poilievre, is calling on all Ottawa Liberal MPs to urge their government to reverse a proposed tax increase on Ottawa’s high-tech sector. Poilievre will launch an effort next week to convince the Liberal government to abandon a proposed tax increase on stock options, which local business leaders are warning would kill jobs in the city’s high-tech sector.

That is particularly the case for Ottawa’s all-important small technology start-ups. Roughly 900 high-tech companies in Ottawa have fewer than 10 employees. Many of them have little money, but lots of potential.

“Stock options allow cash-strapped start-ups to afford the most talented employees by letting them profit from future increases in share prices–enticing today’s talent with a piece of tomorrow’s treasure,” said Poilievre.

But a Liberal platform commitment to double taxes on stock options would effectively end the practice, forcing many young professionals and the entrepreneurs that employ them to seek opportunity outside Canada instead.

“With 60,000 Ottawans working in professional, scientific and technical services, all Ottawa MPs have a duty to oppose new taxes that threaten high-tech enterprises in our city. The Liberal Government’s economic approach is going to continue to drive jobs and investment away from Canada. The Liberals must work to create jobs instead of of bringing in higher taxes on small businesses,” concluded Poilievre.

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