A re-elected Liberal government will give families an extra $1,500 every year, by cutting taxes for the middle class and lowering cell phone bills by 25 per cent. Liberal Party Leader Justin Trudeau announced on Sunday.
He noted that middle class families are feeling stretched. Taxes, fees, and bills pile up while wages are not keeping up. Cell phone bills in particular put a lot of pressure on a family’s budget, with Canadians paying up to twice as much for wireless services than people in other G7 countries. It’s time for hard-working Canadians to get a bigger share of the pie.
“I’ve been talking to Canadians across the country and I keep hearing the same thing: even with our strong economy and record unemployment, it’s still tough to make ends meet,” said Trudeau. “Groceries. Cell phone bills. Child care. It all adds up. And that’s what today is all about — being there for families when they need it most.”
To start, a re-elected Liberal government will:
* Ensure middle class Canadians, and the people working to join the middle class, pay no federal taxes on the first $15,000 they earn — saving the average family $585 in taxes each year;
– This means that about 700,000 more Canadians, including seniors and young people starting their careers, will pay no federal tax at all;
– And will lift about 40,000 Canadians out of poverty.
This will be done by raising the Basic Personal Amount (BPA) by almost $2,000 for people earning under $147,000 a year.
While Conservative Leader Andrew Scheer’s tax plan would give a bigger break to wealthier Canadians, the Liberals say their plan lowers taxes the most for people who make less, helps the middle class, and ensures that the wealthy don’t get an extra hand up. Their tax cut would also help lift twice as many Canadians out of poverty than the Conservatives’.
A re-elected Liberal government will also reduce the cost of wireless services by 25 percent within four years, putting $1,000 back in the pockets of the average Canadian family every year. This will be done by:
* Working with telecom companies to offer plans at globally comparable prices;
* Encouraging Canadian competition in the market, and allowing the CRTC to step if that competition isn’t leading to lower prices; and
* Prioritizing consumer choice and affordability, and not simply the highest bidder, when awarding new wireless expansions.
“The Conservatives spent a decade cutting taxes for corporations and millionaires,” said Trudeau. “Now, Andrew Scheer’s tax cut would benefit the wealthiest more than those who need it most. We know better. Millionaires don’t need another tax break. But the middle class does.”