NDP push 'modest' corporate tax hike to help fund transit
'The corporate sector...needs to be part of the solution,' says NDP leader
Ontario NDP Leader Andrea Horwath says her party would like to see a "modest" increase to corporate income taxes, so that revenue can be generated to use for transit and infrastructure improvements.
Horwath said that the business sector needs to chip in for improving the public transit available to Ontarians and to that end, her party wants to see them contribute through their taxes.
"The corporate sector, which benefits from investments in transit, needs to be part of the solution," Horwath said Wednesday, during a news conference at Queen’s Park.
"That is why today, New Democrats are calling for a modest rollback in the corporate tax cuts, so we can build the transit infrastructure that we need and still fund health care and education."
The NDP leader did not state exactly how much she would like to see the corporate incomes taxes adjusted. The Liberal government says the tax currently stands at 11.5 per cent, down from the 14 per cent it was in 2010.
Horwath also said that the New Democrats want to prioritize transit improvements that are urgently needed, including the so-called downtown relief line that could alleviate overcrowding issues on some of the busiest portions of Toronto’s subway system.
With a report from The Canadian Press