Now they will spend that amount over the next five years to reduce the small business tax rate. Since the new tax cut will save businesses $7,500 a year, the vast majority will end up better off. The most lasting impact of the small business tax reform farce will be on the reputation of the finance minister. He certainly should not have been made finance minister, given his deep roots at Morneau Shepell, a company that operates in the sector that he regulates. His rough treatment at the hands of the opposition was as inevitable as his small business tax reforms were pointless.

Source: National Post October 18, 2017 22:30 UTC