N.B. small business taxes would fall: Alward

New Brunswick's small businesses will be in line for a tax cut if the Progressive Conservatives are elected in the Sept. 27 election, David Alward announced on Friday.

Alward stopped in the community of Napan on Friday to announce a series of initiatives aimed at helping small businesses and rural communities.

The Tory leader said small businesses need help to create jobs in the province.

Alward criticized the Liberals for increasing small business tax rates to five per cent in 2007 up from 1.5 per cent.

"To help our small businesses grow and be more successful, a PC government commits to cutting the small business tax in half over the next four years," Alward said in a statement.

Businesses with income of $500,000 or less pay a rate of five per cent in corporate income tax. Corporations that earn more than $500,000 pay 11 per cent in income tax.

The Liberal government is promising to drop the corporate tax rate to 10 per cent in 2011 and eight per cent in 2012.

The PCs have already promised they will halt the tax cut at 10 per cent.

The New Democratic Party criticized the Liberals and Tories on Friday for promising more spending and tax cuts without identifying areas to cut spending.

NDP Leader Roger Duguay said the provincial government cannot afford all the spending commitments being offered up by the two main parties.

Job levy

The Tories are also vowing to impose a special job levy on temporary wood allocations that have been assigned to outside companies.

"This special job levy on wood that is processed outside the region would return money to the local economy and help the communities' economy and those living in that region as they wait for the mills and processing plants to come back on-line or be purchased and re-opened," Alward in a statement.