Great Britain is a model for sound economic policy. Since 2010, the UK has created more jobs than the rest of the European Union combined. Today, the unemployment rate is 4.9 percent, an eleven-year low. To achieve this success, British governments respond quickly to stormy economic clouds. When the economy slows, they cut consumption and business taxes to strengthen consumer and business confidence.
In contrast, Atlantic Canada has a slow economy and high unemployment. Young people are leaving to find work elsewhere. And our governments’ solution is to raise taxes. In doing so, they hurt the provinces’ ability to attract investment and create jobs. Our region’s governments should cut taxes to make their economies more competitive.