Office of the Honourable Ed Fast
MP for Abbotsford
Shadow Minister for Environment and Climate Change
October 11, 2017
For Immediate Release
Maple Ridge, BC – Today Ed Fast, the MP for Abbotsford and Shadow Minister for Environment and Climate Change, held a roundtable with a cross section of small business owners from Pitt Meadows and Maple Ridge.
A policy paper released on July 18, 2017 by federal Finance Minister Morneau announced a series of tax proposals that will negatively impact small businesses, farmers and entrepreneurs. The Minister’s proposals will undermine how small businesses and their shareholders save for a rainy day, transfer their businesses to their children, and reinvest and grow their businesses. The Trudeau government wants to tax these small businesses at rates of up to 73%.
“The recent proposed tax changes will adversely affect the hard working small business owners, farmers and professionals that work and live in Pitt Meadows and Maple Ridge,” said Fast. “Now more than ever they need a champion in Ottawa who will challenge the Liberal government to back down on these harmful policies. This issue has really hit a nerve, and it is clear that MP Dan Ruimy’s constituents are very upset with his government’s nonsensical tax grab.”
MP Fast chaired a full and lively meeting and heard a range of concerns and ideas. The overarching theme was that small businesses are not the villains and “tax cheats” that the Prime Minister has made them out to be. One small business owner shared how he felt the Liberals are showing no real concern for job creators. Further to that, another owner said, “I thought government should be supporting entrepreneurs, not fighting them”. Some even suggested that MP Ruimy had been dismissive of their concerns.
Fast will bring what he has heard back to Ottawa to share with his colleagues in the House of Commons with a view to persuading the Finance Minister to drop these very hurtful tax proposals. “These tax changes are the most unfriendly to small business in forty years, and it is sad that Justin Trudeau and Dan Ruimy voted against our efforts to extend the consultation period,” continued Fast. “Drastic measures like these require much thought and care to ensure they don’t have a disruptive effect on our economy and on the small businesses that are the backbone of that economy.”
For more information contact:
Executive Assistant to MP Fast (604)557-7888