“Open to making changes to the Liberal tax proposal”

Finance Minister Bill Morneau has said that he’s open to making changes to the Liberal tax proposal.

“We’ve said really from the beginning that this consultation process is about understanding the impacts on Canadians and for that reason we’re open to changes,” said Morneau following a meeting with business owners in Alymer, Que. “There will almost certainly be areas in which we hear things that lead us to conclude that we should be making changes,” said Morneau. “That’s why we have a consultation.”

The finance minister said that once the 75-day consultation period ends on Oct. 2, the government will take some time to process the feedback. “Tax is complex and we want to get it right. What they should also expect though is that we will move forward to make sure that our system works,” he said.

During the 2015 election campaign the Liberals pledged to reduce the small business tax rate to nine per cent. Currently it is frozen at 10.5 per cent.

“We know that having a system that incents people to start business is important. We’re going to continue to think about ways that we can insure that businesses can be successful. So, of course we’re always going to be open-minded about how that can be achieved,” Morneau said.