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United Conservative Party Leader Jason Kenney unveiled details of the party’s proposed Job Creation Tax Cut on Monday.

If elected, Kenney said the party would lower the province’s corporate tax rate to eight per cent, reducing the rate one point per year over four years starting as of July 1.

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Kenney said the cuts would allow for the creation of “55,000 jobs, and grow Alberta’s economy by $13 billion.”

The move would be a reversal, and more, of the NDP’s increase to the corporate tax rate, which brought the percentage up to 12 from 10 per cent. Kenney said the plan would not alter the NDP’s reduction of the small business tax to two per cent from three per cent.

Reducing the tax rate would result in a “$348-million reduction in revenues” in the first year, Kenney said, offset by a $1.2-billion gain by 2023 due to the “stimulative effect of the tax cut in the years two, three and four of its implementation.”