Making food more affordable for lower and middle-class families is the number one priority for the New Brunswick New Democratic Party.
The party announced on Thursday a pledge to introduce a ‘grocery rebate’ program if elected.
To support their grocery rebate plan, they propose to roll back tax cuts for high-income earners established by the Liberals and Progressive Conservatives.
“It’s time to give people a break. A break from the cost of living and a break from the traditional parties who are more focused on helping their rich friends instead of kitchen table issues like the price of groceries,” said Leader Alex White.
“Our plan will give regular people a break by asking the ultra-rich to start paying their fair share.”
Similar to the grocery rebate negotiated by the NDP with the Liberals at the federal level, this initiative aims to quickly and seamlessly provide cash transfers to low- and middle-income families in New Brunswick.
Officials stated that their proposal aims to permanently double the payments that individuals and families in the province receive from the existing HST Tax Credit, ensuring these payments are adjusted for inflation.
It would use an existing program managed by the New Brunswick government and the Canada Revenue Agency (CRA), eliminating the need for any application process.
The proposed funding strategy involves reinstating the highest income tax brackets that were previously removed by previous premiers.
The NDP’s plan introduces a new marginal tax rate of 21 per cent for income ranging from $150,001 to $250,000, along with an additional rate of 25.75 per cent for earnings exceeding $250,000. According to the party, this adjustment would generate $88 million in the first year.
The party believes this initiative would cost around $114.5 million in its first year of implementation.
