Ford vows tax cut for middle class, with $2.3B hit to revenue
MISSISSAUGA •Progressive Conservative Leader Doug Ford, portrayed by the governing Liberals as a wealthy man who doesn’t care about average people, announced Thursday he would cut taxes for the middle class if elected premier in the June 7 election.
Ford’s plan would cut the tax rate for those who earn between $42,960 and $85,923 per year by 20 per cent, and would save taxpayers as much as $786 per person annually.
The tax cut — which would take effect in the third year of a Tory government’s term — would result in a nearly $2.3-billion drop in provincial revenue, Ford said, noting that his government would implement the plan “responsibly.”
“We have a very simple theory,” he said. “Put money back into the taxpayers’ pocket instead of the government’s pocket, because we believe that the taxpayers are a lot smarter at spending their money than any government.”
Vic Fedeli, who has been the party’s finance critic, said a Tory government would cover the resulting revenue drop by finding “efficiencies” in the budget.
“We have to go in line by line by line and look at every single agency, board and commission and look for efficiencies without cutting people,” he said.
Liberal Premier Kathleen Wynne said cutting income taxes results in government being able to do less.
“Doug Ford is campaigning on slogans, he is not explaining to people what it means when there is less money available to invest in health care, to invest in education,” she said.
NDP leader Andrea Horwath said she was concerned Ford would cut vital public services to cover the financial shortfall resulting from his tax pledge.
“He’s going to give with one hand and take away with the other,” Horwath said at a campaign stop.
“What (Ford) needs to do is be honest about what those cuts are going to look like. His plan is one that’s not up front and it’s worrisome to me that he’s not prepared to talk about exactly what is going to happen to everyday families.”
After announcing the tax cuts, Ford also pledged to keep Ontario’s health care budget stable despite the drop in government revenue.
“We are going to keep it the same but we’re going to have better services, we’re going to increase efficiencies,” he said.