Source: Liberal Party of Canada
Ottawa, ON – Today, the Liberal Party of Canada released a new ad highlighting that a re-elected Liberal government will give middle class families an extra $600 every year by lowering taxes, while a Conservative government would give more breaks to millionaires.
“We believe in helping those who need it most: middle class Canadians and people working hard to join them,” says the Leader of the Liberal Party of Canada, Justin Trudeau, in the new ad. “We’re proposing a tax cut, where a middle class family gets $600 and the wealthiest one per cent get zero.”
Earlier this week, we announced that a re-elected Liberal government will make sure middle class Canadians, and the people working to join the middle class, pay no federal taxes on the first $15,000 they earn. This will be done by raising the Basic Personal Amount (BPA) by almost $2,000 for people earning under $147,000 a year.
This Liberal middle class tax cut will:
- Save the average family nearly $600 a year;
- Mean 700,000 people will pay no tax at all — nearly 60 per cent of whom are women;
- Lift about 40,000 Canadians out of poverty; and
- Benefit only the middle class and those working hard to join it, not the richest one percent.
Andrew Scheer has a plan that will lower taxes the most for wealthier Canadians. With his approach, a person making $40,000 will get less than a person making $400,000.
“Whenever the Conservatives cut taxes, they cut them for the wealthy — and in this election, it’s no different,” continues Mr. Trudeau in the ad. “The Conservative approach would go back to giving tax breaks to millionaires.”
This middle class tax cut is just one way a re-elected Liberal government will make life more affordable, saving Canadian families thousands of dollars each year. An average family in Canada will also:
- Save $1,000 a year on their family’s cell phone plans when we lower bills by 25 per cent;
- See their aging parents’ Old Age Security go up by ten per cent once they turn 75, increasing by more $729 each year;
- Save hundreds of dollars a month on mortgage payments if they’re buying their first home;
- Get an interest-free loan of up to $40,000, and hundreds of dollars in incentives, if they want to retrofit their home and save more money on bills;
- Save on medications their family needs when we implement Universal Pharmacare;
- Save $800 a year when we lower fees for before and after school child care by ten percent;
- Get up to $1,000 more to help with the costs of raising a newborn when we boost the Canada Child Benefit by 15 per cent for children under the age of one; and
- Get more money when we make maternity and parental benefits tax-free, and get 15 weeks of paid leave if they adopt.
New Liberal Ad: Middle Class Tax Cut