Mr. Speaker, our government is proud to be cutting the small business tax rate to 9%. The Canadian Federation of Independent Business applauds this measure and gave the budget an A.
For a small business with a taxable income of $500,000, this tax cut, and all of the tax relief that our government has brought forward, will result in a decrease in federal tax of nearly 50%. That is 50% that the business can then reinvest in creating jobs back into that business.
However, the Liberal leader has said that if given the chance, he would kill jobs by reversing our small business tax rate.