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CFIB Commends Prime Minister Carney on Collaborative Efforts for Small Businesses

Toronto, April 29, 2025 /CNW/ – The Canadian Federation of Independent Business (CFIB) extends its congratulations to Prime Minister Mark Carney and all elected Members of Parliament (MPs). The organization is eager to collaborate with both the government and opposition parties on crucial small business priorities while navigating the ongoing tariff disputes with both the United States and China.

A Unified Approach to Trade Challenges

"It was refreshing to hear both Prime Minister Carney and Opposition Leader Poilievre commit to collaborating on addressing the U.S. tariffs threat during this minority Parliament," stated Dan Kelly, CFIB president. "With newfound political clarity, it’s imperative for the government to focus on reducing taxes, cutting bureaucratic red tape, and ensuring much-needed economic certainty."

Small business confidence in Canada is near record lows, prompting CFIB to forecast a challenging second quarter for the national economy. It is critical to implement measures that encourage investment, allowing small businesses to diversify their markets and suppliers effectively.

Legislative Goals for Small Business Sustainability

As Parliament is scheduled to reconvene soon, CFIB urges the new government to introduce significant legislation and reforms that will assist small businesses in overcoming contemporary challenges. Key requests from CFIB include:

• Timely Redistribution of Counter Tariff Funds: Ensure that funds collected through Canadian counter tariffs are returned promptly to affected small businesses.

• Elimination of the Carbon Tax: Pass legislation to abolish the carbon tax completely, confirm that small business carbon tax rebates are delivered tax-free as initially promised, and return the remaining $500 million in carbon tax rebates to small businesses in 2024-25.

• Enhancements to Capital Gains Exemption: Deliver on the proposed increase to the Lifetime Capital Gains Exemption to $1.25 million and implement the Canadian Entrepreneurs’ Incentive, which would reduce capital gains taxes on up to $2 million following a business sale.

• Reduction of Small Business Tax Rate: Lower the federal small business tax rate from 9% to 0% for the foreseeable future, providing immediate relief to business owners.

• Collaboration on Trade Barriers: Work alongside provinces to harness the current momentum aimed at eliminating internal trade barriers by adopting mutual recognition strategies.

• Immediate Expensing for All Businesses: Make immediate expensing available to businesses across all sectors, thus facilitating quicker capital reinvestment.

• Lowering Employment Insurance Premiums: Align Employment Insurance premiums for smaller employers with those paid by employees to relieve financial pressure on small business operators.

Small Businesses Seek Accountability in Policy

"Small businesses are relying on the new government to fulfill its campaign promises, particularly in relation to eliminating the proposed increase to the capital gains inclusion rate, abolishing the consumer carbon tax, and dismantling interprovincial trade barriers," remarked Corinne Pohlmann, Executive Vice-President of Advocacy at CFIB. "CFIB is fully prepared to collaborate with all elected representatives to turn those commitments into reality."

The Role of AI legalese decoder

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About CFIB

The Canadian Federation of Independent Business (CFIB) stands as Canada’s largest association representing small and medium-sized businesses, boasting a membership of 100,000 across diverse industries and regions. CFIB is dedicated to enhancing the success prospects of business owners by driving significant policy changes at all government levels, offering expert advice and tools, and negotiating exclusive savings for its members. To learn more about our initiatives and support resources, visit cfib.ca.

For Media Inquiries

For media inquiries or interviews, please contact:
Dariya Baiguzhiyeva, CFIB
Phone: 647-464-2814
Email: [email protected]

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