Langley, BC – Official Opposition Critic for Seniors, Mark Warawa, says that the Liberal government’s CPP tax-hike is a tax on the middle class and small businesses.
“The Liberals’ CPP tax-hike will take money from the paycheques of hardworking Canadians who are nearing retirement, and will not actually benefit low income seniors or help seniors who are already retired,” said Warawa. “This is also a betrayal of Canada’s small businesses. The Liberal government continues to promote policies that increase the cost of doing business and punishes job creators by taking more of their revenues.”
“We believe in reasonable, evidence-based policies to help Canadians save for their priorities,” added Warawa. “That’s why we expanded the GIS and promoted policies that actually provide seniors with more financial resources when they retire. It’s unfortunate that instead of building on our accomplishments, the Liberal government is implementing a CPP tax-hike, which will not only take more money out of the pockets of hardworking Canadians, but also eliminate jobs.”
In 2015 the Canadian Federation of Independent Business studied a CPP tax-hike and found that it would eliminate 110,000 jobs and permanently lower wages by nearly 1%.