PBO confirms that new Liberal tax will hurt manufacturing jobs in Canada

Ottawa, ON – Dan Albas, Conservative Shadow Minister for Finance, Adam Chambers, Conservative Deputy Shadow Minister for Finance, Tony Baldinelli, Conservative Shadow Minister for Manufacturing and Export Promotion, and Gérard Deltell, Conservative Shadow Minister for Innovation, Science and Industry, released the following statement in response to the Parliamentary Budget Officer’s costing note on the Liberals’ new tax:

“Brace yourself for another Liberal tax.

“Today’s report from the Parliamentary Budget Officer confirms that the Liberals’ newly proposed tax will result in over $2.8 billion in lost sales over the next 5 years – a 15 per cent reduction – that will devastate Canada’s car manufacturing sector, boating sector, and aerospace sector.

“As the Canadian economy emerges from the pandemic and businesses struggle to recover from the downturn, only the Liberals would think imposing new taxes on businesses that create and maintain good manufacturing jobs is the right path forward.

“This new tax will result in lost jobs, foregone economic opportunity, and a reduction in capital investment at a time when we can least afford it. Worse, the Liberals didn’t even want to know what impact this would have on Canadians, as department officials revealed they weren’t even asked to conduct an impact assessment.

“Enough is enough. As Canadians are dealing with record-high inflation and a cost-of-living crisis, the last thing they need is another tax that will drive manufacturing jobs, opportunities, and investments away.

“Conservatives will always defend Canadian jobs and fight for lower taxes. Rather than imposing job-killing taxes that make life even more expensive, Conservatives will fight to lower the tax burden and provide common-sense solutions to the cost-of-living crisis.”