The UCP government decided that one key to boosting the economy is reducing the tax rate to 8%, 2 years earlier than planned. Except tax cuts don’t create jobs.
The UCP government released the Alberta’s Recovery Plan this week. One thing highlighted in the recovery plan is capital spending of over $10 billion, “the largest ever capital spend” in Alberta.
Last week, I reported that Alberta has lost 300,000 full-time jobs since the Alberta government implemented their “Job Creation Tax Cut” in July 2019. But how many of them were public sector jobs?
You’ve probably heard people—sometimes even politicians—claim that giving businesses tax breaks creates jobs. Here’s why that’s a myth.