Feds receive more warnings over tax proposals as public consultation closes

OTTAWA — With its public outreach winding down, the Trudeau government received fresh warnings Monday from major industry associations about the negative fallout from its controversial tax-reform proposals.Business leaders sent new letters to Ottawa insisting the proposed tax changes, which the Liberals have said are aimed at creating more fairness in the system, will cause considerable collateral damage in the economy.The latest criticisms of Ottawa’s plan to change tax rules for private corporations arrived as the government’s 75-day consultation period on the proposals approached its deadline late Monday.Concerns have poured in from angry Canadians with many different backgrounds, including doctors, farmers, small-business owners and tax planners.Finance Minister Bill Morneau has tried to address the outrage by insisting the government has been listening to the concerns and will make adjustments, if necessary.One message came from a group representing some of the country’s fastest growing technology companies and industry investors. They argued the proposals would restrict the ability of tech entrepreneurs to access capital that’s vital to growing their companies and creating jobs.“It is vital that before any decisions on this file are made, the federal government meets with Canadian innovators to discuss solutions that do not hurt Canada’s job and prosperity creators in the tech sector,” said the letter, signed by CEOs representing entrepreneurs, venture capitalists and angel investors.“This is a race to the bottom, and runs contrary to the government’s innovation and skills plan.”The association said the changes, if implemented, would create uncertainty for corporate tax planning, intensify a brain drain of tech talent away from Canada and negatively affect Ottawa’s highly publicized investments to help high-potential firms scale up.Canadian Manufacturers & Exporters, which represents more than 10,000 companies, also laid out its concerns in a letter sent Monday to Morneau that called the changes “significant but flawed piecemeal amendments.”In the message, president Dennis Darby said the reforms would “strike well beyond their intended target” and could lead to “significant negative unintended consequences” for small manufacturers.The changes, Darby added, would reduce the incentive and economic return from entrepreneurship, risk-taking, business investment and job creation. He also said the proposals would increase business costs, further complicate an already complex tax system and create new areas of unfairness.The government also came under more pressure to extend its consultation, a process that has itself been criticized for being too brief for such a complex set of changes.Both groups urged the federal government to delay the consultation period in order to allow for a broader review of the tax system and to allow for more input from the private sector.Morneau has pitched the changes as a necessary levelling of the playing field for all Canadians, particularly those in the so-called middle class, because they would end tax advantages unfairly exploited by some wealthy business owners.The plan, however, has led to considerable outrage, pushing the Trudeau government into a difficult communications war. Vocal and often organized opponents have argued the changes would hurt Canadians at different income levels and from many different sectors.“We are listening — we’ve heard things that we know are going to be important in our implementation,” Morneau said Monday during question period as he once again faced waves of questions about the proposals from opposition MPs.“As we move forward, we’re going to get this right.”Leaders in several provinces have also complained publicly about the possible consequences of the Liberal plan. On Tuesday, Morneau will discuss his plan face to face with provincial and territorial premiers when they gather in Ottawa.— Follow @AndyBlatchford on Twitter read more

Spectacular rainbow of hope appears over London after terror attack

first_imgA spectacular arc of colour illuminating London skies has been called a “rainbow of hope” following the terror attack on the capital.Photographer James Burns, who has been capturing London from the Rooftops since 2006, said it was a “fitting name” for the rainbow seen over the capital’s famous landmarks. A rainbow over London Bridge this evening pic.twitter.com/InkbMe7Pbe— Ben Lion Cooper (@cooper_lion) June 4, 2017 Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. “I was going to call this shoot something different but I got home to discover that the evening rainbow over London had already been named by the general public as the ‘rainbow of hope’,” he explained.“It’s a fitting name for a poignantly placed rainbow, as the two arcs appeared from where I was at The Barbican, to emanate from either side of London Bridge.“The rainbow didn’t hang around long as the clouds were racing in that crazy wind but its brief appearance will live long in the memory. That was a special one.”Londoners have also shared photos of the rainbow using the hashtag #LoveLondon and #HopeForLondon. rainbow London  Mr Burns told the Evening Standard: “Knowing there was a rainbow coming I wanted to capture something to offer hope and tranquility after what happened at the weekend.”You can follow London from the Rooftops on Instagram, Twitter and Facebookcenter_img A rainbow in London Credit:James Burns / Instagram: London From The Rooftops The most beautiful rainbow over #London this evening, a symbol of #Hope. He always keeps his promises. #LondonIsOpen pic.twitter.com/xL6N0lcyJH— Sarah Floyd (@pinkfloydason) June 4, 2017 “A rainbow over the London Bridge, while Ariana Grande sings Somewhere Over The Rainbow. Love wins,” added another. Nicola Halleron wrote: “A rainbow of hope appeared over London #LoveLondon #hopeforlondon #LondonPride #PrayForLondon.”Sarah Floyd‏ wrote: “The most beautiful rainbow over #London this evening, a symbol of #Hope.”last_img read more