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An NDP government would take action to “end corporate welfare” and also introduce a “moderate” tax hike on big businesses so they pay their “fair share.”

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At the same time, Tom Mulcair’s New Democrats would lower taxes for small and medium-sized businesses and offer “targeted” tax breaks for companies that invest in innovation.

Those were the messages Tuesday from two of the party’s senior candidates — Andrew Thomson, a former Saskatchewan finance minister, and Peggy Nash, the party’s industry critic.

Both candidates appeared at a news conference Tuesday to promote the party’s economic plan in the wake of news that Canada sunk into a recession in the first half of 2015.

Thomson and Nash promised a “prudent” plan that creates jobs, particularly in the manufacturing sector, and provides a balanced budget.

They defended the NDP’s plan to hike corporate taxes so that the federal government has resources to pay for programs and Canadian taxpayers don’t bear an unfair burden for the tab.