Among Premier Jason Kenney’s flagship policy promises was to create jobs by cutting corporate taxes.
However, since the rate was reduced down to 11 per cent from 12 effective July 1, with the end goal of decreasing it to a rock bottom low of eight per cent by 2022, no jobs have actually materialized.
Instead, companies have — as all critics and observers of history predicted — largely bought back their own stock and paid off debt. Put simply, the wealthy got wealthier at everyone else’s expense.
Only a handful have reportedly planned for increased spending that would create additional employment. Meanwhile, according to a labour report from Statistics Canada, Alberta’s economy bled about 14,000 full-time jobs in July.
While we do hope the tax cuts eventually spur job creation, we wonder whether the NDP will still be blamed if none materialize.
Simon Ducatel is the Sundre Round Up editor.
