A recent report by the Canadian Centre for Policy Alternatives Nova Scotia and released in collaboration with the NB Common Front for Social Justice, conlcludes that the New Brunswick government could increase its annual revenue by more than $260 million per year, if it chooses to make progressive changes to its income tax system. It makes the case that New Brunswick should reverse the tax cuts that were implemented beginning in 2008, and move to a model that relies less on low-income earners, by adding a top bracket for people with taxable incomes over $150,000 per year.
Auréa
Cormier, from The Common Front for Social Justice said: “Over the
past three years, the tax cuts implemented by the former Liberal
government and continued by the present Conservative government
resulted in a massive movement of revenue out of the government
coffers. It cut the province’s fiscal ability to provide essential
public services and increased the provincial deficit. This occurred
at the height of the 2008 economic crisis. It has also exacerbated
inequality, which will be made worse by massive public programcuts
implemented this government. This report provides another way forward
to ensure that everyone pays their fair share to ensure the
availability of public services and will help reduce he provincial
deficit.”
For more information see: the CCPA NS news release and the New Brunswick at a Crossroads report on the Common Front for Social Justice web site.