The Canadian Chamber of Commerce is calling upon federal and provincial lawmakers to remain loyal to plans to lower business tax rates, launching a national campaign that will implore officials directly to keep their promise.
"Our political leaders have to live up to the promises they have made," said Perrin Beatty, president and CEO of the CCC. "Businesses across the country have invested with the understanding that taxes would decline. A sudden change of course would constitute a broken promise to thousands of businesses and the people they employ."
Debate has risen in recent months regarding plans to allow the corporate tax rate to fall to 15 percent beginning January 1, 2012. The rate is currently at 16.5 percent, having fallen from 18 percent with the beginning of this year.
Earlier this week, Parliament budget leader Kevin Page warned the House of Commons finance committee that the Canada's national deficit may be much higher than originally anticipated, positing the shortfall could reach $10 billion by 2015.
Minister of Finance Jim Flaherty is expected to deliver the official 2011 fiscal budget this March.
