Scrap income splitting – invest in a stronger middle class

In reaction to the Parliamentary Budget Officer’s report today, New Democrats reiterated their call for canceling the Conservatives’ wasteful and ineffective income splitting scheme.

“At a time when Canada’s middle class is being squeezed by a slumping economy, Stephen Harper plans to hand out $2 billion a year to the wealthiest 15%,” said NDP finance critic Nathan Cullen (Skeena—Bulkley-Valley). “Today’s PBO report strengthens our case to scrap Mr. Harper’s unfair income splitting scheme and invest that money in middle class families instead.”

The PBO’s report confirms that the cost of this giveaway to the wealthiest will be over $2 billion per year. Only 15% of Canadian households will benefit.

“Tom Mulcair’s priority is a stronger middle class,” said Cullen. “In this year’s election, we’ll offer a choice between change or more of the same: childcare for young families or more tax breaks for the wealthiest few.”