Canada's Harper to Give Small Businesses C$220 Million Tax Cut

By Theophilos Argitis

Sept. 13 (Bloomberg) -- Canadian Prime Minister Stephen Harper promised C$220 million ($206 million) of small business tax cuts during the next four years if he's re-elected.

Harper, wrapping up his first week of campaigning for the Oct. 14 elections in Atlantic Canada, is trying to frame his campaign for the Oct. 14 elections around the economy after growth slumped this year to the lowest since 1992.

The governing Conservatives will change the income threshold under which companies can become eligible for lower small business tax rates and the limit on capital gains exemptions will be indexed to inflation, Harper said today in Fredericton, New Brunswick.

On Sept. 9, Harper pledged to reduce a tax on diesel fuel that will cost government coffers C$600 million a year.

``The measures that I am announcing today are modest, responsible and affordable steps,'' Harper said in a speech delivered at a factory in Fredericton that makes heating panels for floors. ``But we believe they are steps in the right direction for Canadian small businesses and for the Canadian economy.''

A poll released yesterday by Harris/Decima for Canadian Press had the Conservatives with the support of 41 percent of voters, compared with 26 percent for the opposition Liberal Party. The survey of 1,406 Canadians was conducted Sept. 8 to Sept. 11 and has a margin of error of 2.6 percentage points.

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