Mulcair Promises Innovation Tax Credit For Manufacturers

NDP Leader Tom Mulcair is promising, if elected, an Innovation Tax Credit to support manufacturers across the county. Mulcair made the announcement at Sciencetech Inc. in London during a campaign stop on Wednesday morning He says the Innovation Tax Credit will invest in equipment used at companies committed to research and development, saving businesses $40-million per year. "We're showing that we want to be champions for manufacturing and innovation, create the next generation of well-paying jobs," notes Mulcair. "Right now, the middle class sees its revenues stagnating ... and household debt is skyrocketing." During the campaign stop the NDP leader was critical of how Prime Minister Stephen Harper has dealt with the manufacturing industry and the middle class that "built the country", touching on the demise of London's ElectroMotive in 2012. "Stephen Harper showed up with a cheque for 5-million bucks, he did the photo op and did nothing to keep those jobs in Canada. The workers were locked out," notes Mulcair. "Those jobs were all shipped off to the United States along with the 5-million bucks." The NDP also plans put an end to income splitting to bring in more tax dollars, all while reducing the small business tax rate from 11% to 9% and providing $15 per day child care. ElectroMotive closed in February of 2012, leaving 500 people without a job. Some have been critical of the plan NDP's economic plan, saying it is expensive and banning income splitting will not bring in nearly enough money to fund all the party's promises. "We will have a fully costed program that will be released throughout the course of the campaign," promises Mulcair. "The NDP's first budget will be a balanced budget ... We will not run a deficit." Mulcair is set to visit Stratford next.