Alberta knocks 20 per cent off corporate tax, slashes foreign workforce

UPDATED WITH VIDEO 30 JUNE 2020

Jason Kenney announced on Monday that his Conservative government is cutting the general tax burden on corporations in an attempt to reinvigorate the economy.

"We must act now," Kenney told the press on Monday, adding that rate would drop from 10 per cent to 8 per cent effective July 1. Quite the Dominion Day present for Albertan businesses struggling through the economic catastrophe.

There’s more. Much more. Kenney went on to announce the largest policy shift we have seen come from his government since he took office: temporary foreign workers are on the chopping block. Not just temporary foreign workers either, but one third of the immigration certificates in the provinces inventory will be scrapped.

"Our future is truly at stake," Kenney stressed. While he has been known for his staunch support of immigration and foreign labour throughout his time in politics, that was pre-COVID. Alberta hasn't just been dealt a new hand - it's playing with a new deck of cards entirely.

In addition to the tax cut and immigration changes, the Alberta government is creating a $10 billion infrastructure spending plan to mitigate the ongoing crisis. The plan will focus on immediate employment – this means hospitals, pipelines, and schools. Kenney emphasized that this was the "largest infrastructure build in Albertan history."

"The announcement today sends a startling message to business leaders throughout North America that our commitment to have the lowest taxes for job creators isn’t just some aspirational, out-there-in-the-future B.S. target,” the Albertan Premier said told reporters today during a press conference. 

Alongside this fiscal package, Kenney says that the government will implement a vigorous marketing program to promote Alberta cities to Toronto and other global firms, touting the lower tax regime and lighter road traffic.