Premier tells businesses they will get tax cuts in next N.S. budget

[Querce]

https://www.cbc.ca/news/canada/nova-...ions-1.5461389

Premier Stephen McNeil used his annual state of the province get-together with members of the Halifax Chamber of Commerce to tell businesses they will get tax breaks in the next provincial budget.

Responding to questions from chamber president Patrick Sullivan, McNeil announced a plan to cut the corporate tax rate by two points, which will bring it to 14 per cent.

"We know that our corporate tax is the highest in Canada," McNeil said.

The federal government says Nova Scotia is tied with P.E.I. for having the highest corporate tax rate in the country at 16 per cent.

The news drew immediate applause from the hundreds of people gathered to hear the premier speak.

McNeil also said the small business tax rate will drop from three to 2.5 per cent, and will be the lowest in Atlantic Canada.

The federal government says the new rate will match New Brunswick's rate, which is currently the lowest in Atlantic Canada.