Paul Davis announces plan to reduce taxes for small businesses

Newfoundland and Labrador PC leader Paul Davis says a re-elected Tory government would cut taxes for small businesses so that they would become the lowest in the country.

• CBC's full coverage of Newfoundland and Labrador Votes 2015

In a policy statement this weekend, Davis said the Tories would also provide more support for first-time entrepreneurs, female entrepreneursand local businesses looking to capitalize on export trade.

Davis'sgovernment would also create a new Crown corporation to manage the entire government business portfolio.

"It will be a business, run by businesspeople for the people of Newfoundland and Labrador,"Davis said in a release.

These policies are an extension, Davis said,of the party's work over the past few years.

That work has included the creation of two venture capital funds for small business development, and the introduction of a new Interactive Digital Media Tax Credit

"We are determined to create the conditions for success," saidDavis.