The federal government will announce Friday it is eliminating the remaining tariffs on machinery and equipment for the manufacturing industry, in a move it expects will create 12,000 jobs, 麻豆传媒 has learned.
The government first promised to eliminate the tariffs in 2010, under then-finance minister Jim Flaherty.
On Thursday, a senior government source said lowering the cost for businesses to import industrial equipment could result in $450 million in annual tax relief for manufacturers, and is specifically expected to benefit small and medium-sized businesses.
Philip Cross, a senior fellow with the Macdonald-Laurier Institute, said on CTV's Power Play Thursday that the announcement is 鈥渃onsistent鈥� with the government鈥檚 previous announcements on free trade.
鈥淭hey鈥檝e been very good on the free-trade aspect of things, and that encourages income growth.鈥�
However, Cross said the bigger news when the federal budget is tabled in Ottawa next Tuesday is likely to be tax breaks in the form of changes to the tax and transfer system.
