NDP LAYS OUT ECONOMIC AGENDA TO SAINT JOHN CHAMBER OF COMMERCE

SAINT JOHN – In a policy speech to the Saint John regional Chambers of Commerce, NDP leader Dominic Cardy laid out his party’s vision for economic development.

“We don’t need big government, or small government, we need good government,” said Cardy, who made it clear that only the new NDP offered a change from the idea that government was responsible for direct job creation.

“Government has to create the condition for job creation and that means investments in education and healthcare. That can’t be done until we balance the books. Government has to create the right environment for businesses to succeed. These policies show the approach a new NDP government would take.

Among other ideas, a new NDP government will:

Close the Department of Economic Development, keeping elements that work – such as the offices coordinating trade missions and investment opportunities – under the Department of Finance.

Introduce a New Jobs Tax Credit to reward companies that create new jobs. This tax credit will be available to any employer who creates a new job: no politics, no complicated bureaucracy.

Introduce a Research and Development Tax Credit to promote business growth, encouraging companies to grow right here in New Brunswick.

Increase the New Brunswick Investment Tax Credit cap to $500,000, making it the highest on the Eastern seaboard.

Establish regionally competitive tax credits for angel investors, encouraging them to give New Brunswick start-ups a helping hand.

Work with our university and community college network to establish angel investor hubs on campuses across New Brunswick, letting our students turn their new ideas into tomorrow’s business success stories.

Support the New Brunswick Innovation Foundation and will strengthen links between universities, community colleges, and individuals with creative ideas to develop new concepts, products, and companies through continued support for the NBIF.

Support social enterprises by expanding the policy development work undertaken by the Advisory Committee on Social Enterprise and Community Investment Funds and the Co-operative Enterprise Council of New Brunswick.

Create the Tourism Marketing Fund, to be collected via a hotel levy.

Support the development of a new Spruce Lake barge terminal.”