10 March 2020
For Immediate Release
FREDERICTON, NB – The Fredericton Chamber of Commerce applauds the Higgs Government for balancing the budget and reducing property taxes.
In its pre-budget submission, the chamber encouraged the government to maintain its focus on fiscal responsibility in order to reduce the Province’s net debt and create room to invest in New Brunswickers and enhance the competitiveness of business.
“This budget clearly shows how the economy, growth and the government’s ability to deliver services are inextricably linked,” said Krista Ross, Fredericton chamber CEO. “Lower debt payments means that government can spend more on things like health and education, but also can reduce taxes and invest in red tape reduction, both of which hamper growth. As with any budget, we will be keen to hear more details in the coming days and weeks.”
The chamber, along with other business organizations have been calling for a comprehensive tax review and specifically the elimination of the tax on non-owner-occupied properties and non-residential properties. During the last election cycle, a coalition of business organizations under the We Choose Growth banner asked all parties to commit to a private-sector driven economy.
“We are pleased that government has heard our call on property tax and intends to begin reducing the double tax this coming fiscal year,” added Ross. “This will make business in New Brunswick more competitive and give us a chance to build economic momentum, which in turn will allow government to further reduce debt and deliver more services. In the coming years, this will be even more important as we cannot expect to receive large increases in equalization payments on an annual basis.”
The chamber looks forward to continuing to work with government and other stakeholders to identify roadblocks to growth and opportunities for investment.
The Fredericton Chamber of Commerce, a nationally accredited organization with over 1,000 members, is an active business organization engaged in policy development and advocacy that affects the competitiveness of our members and the Canadian business environment. The Chamber’s vision is ‘Stronger Community Through Business Prosperity’.
Contact: Krista Ross, CEO, Fredericton Chamber of Commerce – (506) 458-8006