Winnipeg Free Press - PRINT EDITION

Business-tax ceiling, growth funding key promises

  • Print

Michael Vogiatzakis outlines his business-tax plan.

MELISSA TAIT / WINNIPEG FREE PRESS Enlarge Image

Michael Vogiatzakis outlines his business-tax plan. Photo Store

Mayoral candidate Mike Vogiatzakis has vowed to cap the amount the city collects in business tax and use revenue from it to finance growth.

Vogiatzakis said he would cap the amount of business-tax revenue at $58 million annually. He would give $3 million of it to Economic Development Winnipeg, which would be free to use the funds to help business grow.

"The business community hates the business tax," Vogiatzakis said during a news conference Friday from a reception lounge at his Voyage Funeral Home.

"We're giving the (business tax) money back to business, where it belongs."

The city 2014 operating budget predicts business tax revenue for the year at $59.7 million.

If elected, the proposal would benefit Vogiatzakis, who owns several properties in Winnipeg, including the funeral home. But he doesn't live in the city. He has a home in the RM of St. Andrews.

Vogiatzakis says the idea was spawned from Manitoba Bold, an initiative of the Winnipeg Chamber of Commerce. It generated similar suggestions about how to boost the local economy.

Sam Katz first ran for office 10 years ago on a promise to eliminate the business tax. He was only able to lower the rate or freeze it.

Another mayoralty candidate, Judy Wasylycia-Leis, has said she would freeze the tax rate -- but not cap the amount collected.

Businesses pay property and business taxes, but argue they receive no benefit for the business tax. Other communities have eliminated the business tax, but those cities are in other provinces where they can impose differential tax rates to make up for the lost revenue.

During the news conference, Vogiatzakis held up a handwritten board -- with spelling errors -- to demonstrate how his plan would work.

Vogiatzakis said he predicts his plan will fuel economic growth in the city, generate new businesses and jobs, which will result in an overall increase in property-tax revenue.

If the scheme succeeds, he said, the business-tax rate will decrease every year as new businesses start up or existing ones expand

"It's win-win for everybody," Vogiatzakis said.

aldo.santin@freepress.mb.ca

Republished from the Winnipeg Free Press print edition August 2, 2014 B1

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Winnipeg Jets Bogosian-Little-Ladd

View more like this

Photo Store Gallery

  • A baby Red Panda in her area at the Zoo. International Red Panda Day is Saturday September 15th and the Assiniboine Park Zoo will be celebrating in a big way! The Zoo is home to three red pandas - Rufus, Rouge and their cub who was born on June 30 of this year. The female cub has yet to be named and the Assiniboine Park Zoo is asking the community to help. September 14, 2012  BORIS MINKEVICH / WINNIPEG FREE PRESS
  • Marc Gallant/Winnipeg Free Press. Local/Standup- BABY BISON. Fort Whyte Centre's newest mother gently nudges her 50 pound, female bull calf awake. Calf born yesterday. 25 now in herd. Four more calfs are expected over the next four weeks. It is the bison's second calf. June 7, 2002.

View More Gallery Photos

Poll

Do you support Canada's involvement in the fight against Islamic State?

View Results

View Related Story

Ads by Google