MP DEAN DEL MASTRO APPLAUDS THE NEW ONTARIO SINGLE SALES TAX AND DECREASE IN THE CORPORATE TAX RATE

March 26, 2009

(Thursday, March 26, 2009 – PETERBOROUGH, ON)  Dean Del Mastro, Member of Parliament for Peterborough is applauding what he calls a “politically courageous” move made today by the Ontario Government in harmonizing the GST and PST into a single, value-added sales tax.  He is also pleased to see that the Corporate Tax Rate will drop from 14% to 10% by the year 2013.

“Ontario needs a competitive tax structure.” stated MP Del Mastro.  “The Conservative Government has been advocating for a single sales tax and a drop in the Corporate Tax Rate since the Federal Economic and Fiscal Update in the Fall of 2006 and I am pleased to see it become a reality.  Currently, New Brunswick, Nova Scotia and Newfoundland and Labrador have already harmonized their provincial sales taxes with the GST and while this is “Ontario’s choice”, we (the Federal Government) will work to support them.”
  
MP Del Mastro believes current Ontario corporate tax rates are too high, discouraging the types of investments that create jobs and leaving the province vulnerable for additional manufacturing and job losses.  "Dropping the tax to 10% from its current 14% by the year 2013 will stimulate the economy both now and in the future. These moves compliment the substantial reductions that have been made by our Federal Conservative government going back to our first budget in 2006 . " stated MP Del Mastro.
 
"The significant tax changes announced in today's Provincial budget will make a positive difference in Ontario's economic future which is why I am pleased to support them." stated MP Del Mastro.