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Budget advise to new cabinet

On behalf of its 10,000 small business members in Alberta, the Canadian Federation of Independent Business (CFIB) released its final pre-budget report and recommendations to president of the Treasury Board and the new finance minister.

On behalf of its 10,000 small business members in Alberta, the Canadian Federation of Independent Business (CFIB) released its final pre-budget report and recommendations to president of the Treasury Board and the new finance minister.

CFIB has outlined a series of bold, new policy directions for next month’s provincial budget.

In particular, CFIB recommends the government take action in the following key areas:

1. Implement meaningful fiscal restraint by:

·reducing operating expenses by at least 10 per cent;

·introducing a new expenditure limitation law to restrain all future operational spending increases to no more than population growth plus inflation; and

·limiting annual transfers from the Sustainability Fund to a maximum of 15 per cent.

2. Create a plan to ensure long-term tax competitiveness for Alberta’s small businesses, including a new multi-year plan to reduce the small business tax rate to zero;

3. Make a robust commitment to cutting unnecessary red tape by measuring the total burden, reporting it to the public, and establishing a target to reduce it over the next three years;

4.Usher in a new era of savings by legislating a requirement to save a fixed percentage of total revenues in the Heritage Savings Trust Fund each year and establishing a bold, new target to save $100 billion in net financial assets in the Heritage Fund by 2030.

“The Premier says the upcoming budget must be about building Alberta’s economy so we come out of the recession stronger than any other province in Canada. Our message to him and his government is simple: creating a better environment for small business and entrepreneurs would be the best place to start,” stated Richard Truscott, Alberta director for CFIB.

“The so-called Alberta Advantage is slowly but surely slipping away. In fact, a third of smaller firms in Alberta believe that there is no longer an Alberta Advantage.

“It’s time for bold, new policy directions to ensure our province is the best place in the country for small business owners and entrepreneurs to succeed and prosper,” concluded Truscott.