PM welcomes Tim Hortons back to Canada

September 23, 2009

Highlights Canada as an investment destination, citing lower business taxes under Harper government leadership

Oakville, Ontario, Prime Minister Stephen Harper highlighted his government’s record of lowering taxes to attract business to Canada, after meeting today with executives of Tim Hortons.  Yesterday shareholders of the multinational corporation voted to reorganize as a Canadian public company.

“Since first coming into office, our government has helped set the conditions for Canadian businesses to succeed and to make Canada a great place to do business,” said the Prime Minister.  “Tim Hortons’ decision shows our strategy is working.” 

The Harper Government has made Canada more competitive by reducing the general corporate income tax rate from over 22 per cent to 19 per cent today. Through these and other policies the Government is helping to create jobs now and is laying the foundation for long-term economic growth.  By 2010, Canada will achieve the lowest overall tax rate in the G7 on new business investment.

“Our government has reduced taxes, paid down debt and invested in the infrastructure projects that businesses need to succeed,” said the Prime Minister.  “Canada has not been immune from the global economic downturn and our Government remains hard at work to protect Canadians and to ensure our country’s recovery.  However, Canada continues to fare better than many others, and is clearly an attractive investment destination.”

Joe Preston was on site for the announcement. “What is more Canadian than Tim Hortons?” said Preston, “Welcome home!!”

Tim Hortons was founded in Canada in 1964.  In 1995, the company merged with the U.S. firm Wendy’s International Inc.  In 2006, it was spun off to become its own separate U.S. company.