Liberals Support Small Business – The Engine of Our Growing Economy
Prince Edward Island, April 17 – As our economy diversifies and new job opportunities emerge, the Liberal Party is proposing a series of measures to help small business thrive in a changing world.
“When we set new records in job opportunities and economic growth, we need to understand the drivers of our provincial success are small business and workers,” says Liberal Leader Wade MacLauchlan.
“The Liberal plan for small business will help entrepreneurs build their capacity to create new employment opportunities, and open new markets for our high-quality products and services.”
Specifics of the Liberal plan include:
- Support for small businesses to hire recent post-secondary graduates
- Reduction of the small business tax rate to 2.5 per cent – the lowest in Atlantic Canada
- A reduction in licensing and inspection fees for many small businesses
- Creation of an Export Growth Fun to support sales across Canada and around the world
- Elimination of red tape, with a goal of $8 million in regulatory savings by 2022
This year, Prince Edward Island is expected to lead Canada in economic growth – and full-time employment has risen by 5,000 since 2015. Over the next several years, the Liberal Party has committed to a further full-time job increase of 3,500.
“I have always said that job growth is the key to a socially progressive province,” MacLauchlan said. “As employment opportunities grow, so does our economy. And that means that we have much greater capacity to explore and pursue important innovations in health care, education and affordability.
“By supporting small business, we support our entire province – and that gives us the tools we need to make sure that every Islander has the opportunity to succeed.”