The New Democratic Party has a campaign platform that is heavy on spending and regulatory measures. The party platform is generally sparse on information regarding the financial implications of specific agenda items but it does say that the party is committed to balancing the deficit within four years.
Under an NDP government small businesses would see their tax rate drop to 9 per cent. To stimulate job creation, a $4,500 tax credit is proposed for every new hire that small businesses take on. In addition, if the new worker is still employed a year later the business would receive a $1,000 retention tax credit. The corporate tax rate in Canada would be kept lower than the American rate.
The NDP would seek to lower tuition to post secondary institutions by providing an $800 million transfer fund to the provinces. Furthermore the Canada Student Grants Program would have its funding bolstered by an additional $200 million annually. During tax season students would benefit from an education tax credit increase to $5, 760.
In health care the NDP platform emphasizes a commitment to a single pay system. NDP legislation would work towards replacing fee-for-service healthcare.
Empoyment Insurance would see some changes to the way it is administered. Two notable alterations are increasing the benefit to 60 per cent of the employee’s best 12 weeks and elimiting the two week waiting period.
The environment is discussed at length in the NDP platform. It sets a greenhouse gas emissions target of 80 per cent of 1990 levels to be reached by 2050. A cap and trade system would be implemented that would attach a cost to significant sources of greenhouse gas emissions. Money raised from emissions permits would be used to fund green investment.
Other spending initiatives favoured by the NDP include a childcare program and pension reforms similar to those proposed in the Liberal platform except with modestly higher funding.