Finance Minister Bill Morneau delivers his last fall economic update—a midterm fiscal report typically tabled between federal budgets—before next year’s election. Watch it here.
Morneau has faced pressure from some corners to enact corporate tax reform that responds to Donald Trump’s signature overhaul of the American tax code in 2017. Kevin Milligan, a professor of economics at the University of British Columbia, wrote in Maclean’s that the feds ought to consider progressive taxation for the corporate sector.
Many progressive Canadians respond to any discussion of corporate taxation with “more, please” while other Canadians may think “less.” But, just scaling up or down the existing flawed system by ratcheting the corporate tax rate up or down reaches neither the goal of growing the economy nor improving tax fairness in an effective way.
Fortunately, we can move corporate taxes in Canada in a direction that is both productive for growth and progressive for fairness. Here’s how we can achieve progressive corporate tax reform, in a simple two point plan.
Read the rest of that piece here.