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RSS FeedsMorneau says Canada won´t act in `impulsive way´ in response to U.S. corporate tax cuts
(The Star Toronto Raptors)

 
 

16 february 2018 23:50:44

 
Morneau says Canada won´t act in `impulsive way´ in response to U.S. corporate tax cuts
(The Star Toronto Raptors)
 


The Liberal government will not “act in an impulsive way” in response to U.S. corporate tax cuts that economists say pose a threat to Canada’s competitiveness, the federal finance minister said after a prebudget meeting Friday.Bill Morneau said the government is conducting careful analysis in connection with U.S. President Donald Trump’s sweeping tax reforms, which cut the U.S. corporate tax rate from 35 per cent to 21 per cent as of Jan. 1.“We are doing our analysis to make sure that we understand the impact of any changes . . . To make sure we get it right and not to act in an impulsive way,” he said to reporters on Friday.Read more:What the passing of the U.S. tax bill means and what it does to CanadaDon’t expect Canada to slash corporate taxes after U.S. cuts, experts saySome Canadian companies set to save big on U.S. tax cuts, analysts sayMorneau’s comments came after he met with private sector economists in Toronto to get their input on everything from NAFTA to global economic uncertainty ahead of the federal budget on Feb. 27.The panel typically includes about a dozen experts from commercial banks, think tanks and trade associations.The finance minister was tight-lipped Friday about the upcoming budget but said the discussion with economists touched on the uncertainty around negotiations of the North American Free Trade Agreement and the impact of changes to U.S. tax rates on the Canadian economy.“We will carefully consider the U.S. changes and the international situation to make sure that our economy is competitive,” he said.He would not comment on whether tax cuts are in the cards for large Canadian corporations.Economists have said the tax reforms will give companies another reason to set up shop or relocate south of the border.When asked whether the upcoming budget would be a balanced one, Morneau said the government’s approach has a “long-term view to being fiscally responsible.& ...


 
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