Jason Kenney speaks to the media at his first convention as leader of the United Conservative Party in Red Deer, Alta., Sunday, May 6, 2018. (THE CANADIAN PRESS/Jeff McIntosh)

Jason Kenney would cut corporate tax rate to eight per cent

UCP leader says that would make it the lowest rate in Canada

Alberta Opposition Leader Jason Kenney says a United Conservative government would drop the corporate income tax rate to eight per cent from 12 per cent by 2022.

Kenney says it would be the lowest rate in Canada and would pay for itself as employers used the tax break to create more jobs, propelling other tax revenues to grow.

READ MORE: Jason Kenney pushes for lower minimum wage for youth, alcohol servers

Kenney says the rate would drop by one percentage point each year, starting this July, if his party should win the spring election.

The UCP’s cornerstone policy is to grow the economy by cutting taxes and eliminating what Kenney says are duplicate or unnecessary regulations and red tape.

Alberta’s 12 per cent corporate tax rate is the same as in B.C. and Saskatchewan, so Kenney says there is no incentive for employers to move from those provinces to Alberta.

Premier Rachel Notley’s government increased the rate two percentage points after the 2015 election.

The NDP have noted that even with the change, Albertans still enjoy the lowest overall tax burden in Canada.

The Canadian Press

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