We believe it is more important, at this time, to maintain the competitive advantage of businesses in this sector. Therefore, I am pleased to announce that there are no increases in corporate income tax rates in this Budget. Payroll Tax Reduction Mr. Speaker, I am very pleased to announce today that this year government is cutting the payroll tax for a third consecutive year. This measure will remove approximately 1,300 small businesses from the tax roll and lower the tax burden for all others. These measures are consistent with recommendations contained in the Advisory Council's report and the messages received during the Jobs and Growth consultations.
Government remains committed to further reductions in the payroll tax as fiscal conditions permit.
Rural Revitalization Mr. Speaker, a special emphasis has always been placed by this government on rural revitalization. Fisheries and Aquaculture Mr. Speaker, one of the success stories of our economy continues to be the emergence of the new fishery and the growing aquaculture sector. The Fisheries Diversification Program is a major catalyst for the rejuvenation of the fishery. This has been accomplished through investments in developing new fisheries, new products and new markets. A major factor in the recent success of the fishery has been the emphasis on quality control.