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Wednesday, July 3, 2013

Taxpayers Group Warns More People Will Be Leaving Province

The Canadian Taxpayers Federation predicts the hike on Canada Day in provincial income tax will not only put a damper on economic growth because people will have less money to spend. 

The Federation's Atlantic Director Kevin Lacey tells CHSJ News it will send more people from this province out west because people vote with their feet these days. He estimates in the last five years, something like 34 hundred people have left for Alberta from New Brunswick. 

Lacey maintains the only way you can get a handle on the deficit and keep people from moving away is to grow the economy but raising taxes won't accomplish that especially when the provincial deficit is expected to rise to 479 million dollars in spite of the provincial income tax going up.

The Conference Board of Canada's Help Wanted Index has dropped in New Brunswick for the second month in a row.