NS Economy
By MNN Staff. Last updated: 2010-07-30 11:39:10
A professor at the University of Moncton says his ideas to better Nova Scotia's economy would cost the province more in tax revenues at a time it faces budget deficits. But Donald Savoie says the province must consider how much revenue a growing private sector would generate if it can invest more in its productivity.
Savoie, a professor of public administration in New Brunswick, has submitted a report on economic development in Nova Scotia, calling on the Dexter government to set up a 50 million-dollar venture capital fund, and cut some corporate taxes. It also calls on the government to abolish its capital tax, which the province is already phasing out.
Savoie says the province should increase tax credits for businesses that invest in themselves.
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