In fact, your personal income tax rate has been cut four times since 1995 and it is more than 22 per cent less than it was two years ago. I'm also glad to say more tax cuts are coming. You see, we prefer to put money back into your pockets. That way, you decide what to do with your money. Peter Woolford of the Retail Council of Canada welcomes our government's tax cut.
Tax cuts stimulate the economy, create jobs and promote consumer confidence and spending.
There is more good news for small business owners. Our Red Tape Commission is weeding out unnecessary rules, regulations and procedures. Job-killing payroll taxes have been reduced at the provincial level and we have restored balance to the province's labor legislation. In addition, start-up procedures for small business have been streamlined and incentives have been introduced to help small businesses get access to the capital they need to succeed. Our government appreciates the hard work and dedication that goes into running a small business.