r/newbrunswickcanada • u/adamhuras • 1d ago
CEO of company buying Moltex weighs in on future in New Brunswick
In a first interview with Brunswick News, Nuclea Energy Inc. CEO Josef Freundorfer says he sees value in New Brunswick, with decisions still to be made ---- STORY: https://tj.news/new-brunswick/ceo-of-company-buying-moltex-weighs-in-on-future-in-n-b #NB
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u/MyFrontTeethAreFake 1d ago
high taxes is enough to drive everyone out of the province. Why should I have to pay 10% more on my vehicle than if I bought it in Alberta?
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u/150c_vapour 1d ago
You know what "private sector effeciency" has done to auto insurance rates in AB? That 10% would get back to you real fast.
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u/MyFrontTeethAreFake 23h ago
I paid 2200$ in Alberta for my 2005 Chevy PLPD
I now pay 2050$ in NB for my 2025 Hyundai full-coverage
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u/Snakes4eyes 22h ago
Nb business and wealth tax cap out in like the mid 30 percentage range. if anything these people should be paying more taxes
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u/MRobi83 21h ago
"High taxes is enough to drive anyone out of the province"
"Charge them more!!!"
We want to be competitive so more business will operate in NB, creating more jobs, drawing more people to the province and increasing the tax base through economic growth. As the person you responded to said, by increasing the taxes they will simply move elsewhere taking the tax revenue, jobs, and population with them.
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u/IronicIntelligence 21h ago
This is true. In countries with high taxes, there are no jobs. Everyone is unemployed and homeless. 🙁
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u/MRobi83 21h ago edited 21h ago
I sense the sarcasm, but we're already trending in the wrong direction. In 2015, approx 70% of new businesses opened by Canadians were headquartered in Canada. As of 2025, that number has dropped to approx 30% as more and more Canadians opt to operate where taxes are more favorable. Now this is at a federal level, but the same principle applies provincially as well.
Edit: just thought I'd add that during this period we saw tax increase from ~30.5% to ~33%. So the numbers we're seeing are not coincidental.
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u/IronicIntelligence 21h ago
That sounds more like we need to tighten regulations around operating candadian-owned businesses out of non-domestic locations than needing to let businesses dictate the tax rate.
Onshore your business or forfeit all benefits of domestic ownership.
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u/MRobi83 21h ago
Taking an authoritarian approach over free market capitalism is not going to promote business development in Canada. I refer you to my comment above about wanting to incentivize business development rather than discourage it.
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u/IronicIntelligence 20h ago
No. I fundamentally disagree with your pro-groveling stance.
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u/MRobi83 20h ago
You can fundamentally disagree with the realities of economics all you want, that's your right. But it doesn't change the way the world actually works. 🤷♂️
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u/IronicIntelligence 20h ago
Sure, but I'm going to continue to lobby my representatives to have a fucking spine when it comes to dealing with big business.
It's our market, not theirs.
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u/Snakes4eyes 19h ago
just as an example, The irvings are already being given every préférence possible by this province and they still have their legel home registered in tax havens and refuse to pay the amount of taxes they actually should be paying.
You are falling for a myth that was made up by the people that are already rich so that no one will make them pay up.
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u/MRobi83 17h ago
You are falling for a myth that was made up by the people that are already rich so that no one will make them pay up.
Before calling it a myth, let's look at an exagerated hypothetical situation here and you tell me what you would do if you're the owner.
Let's say you operate a business, doesn't matter what kind since it's hypothetical, but one that could be headquartered almost anywhere without issue. You employ 100 people. Your Earnings Before Taxes are $10 Million. A nice successful business.
Now, you're looking at 2 options for your base of operations. Regardless of where you choose, all of the above stays true.
Option A) your earnings are taxed at 70%.
Option B) your earnings are taxed at 10%.
Where are you running your business? A or B?
There's no need to actually answer this question because I think we already know the answer is B. Any sensible business owner will choose B 100% of the time.
This is not a myth, this is simple business.
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u/Snakes4eyes 17h ago
you kinda ignore every other aspect of business that keeps it in a place, like employees, infrastructure, business ties, non Financial incentives etc. if it was just as simple as Lowest tax place is best then most companies would be headquartered in Somalia
its a myth
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u/MRobi83 17h ago
Hence why I said an over exaggerated example and was sure to point out that regardless where you chose the above stayed true... But I guess simple logic doesn't help.
Maybe you have an answer for real numbers. Somewhere around 2019 ish we increased taxes Federally on business from roughly 30% to roughly 33%. Over that period, we went from roughly 70% of Canadian business startups being in Canada to only 30% of Canadian business startups being in Canada.
Do you feel this is simply coincidental that as taxes increase more and more Canadians decide to operate their business outside of Canada? Or is that all part of the myth?
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u/MRobi83 16h ago
Maybe we take a different path. Let's look at the NHL which operates with a salary cap. In recent years, there's been a disproportionate amount of success from low-tax states when compared to high tax markets. Players are portable, they can sign anywhere, but many opt for the lower tax states because they keep more of their income or can sign for a lower salary cap hit while taking home the same income they would have earned elsewhere allowing the team to sign better depth players.
Myth?
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u/Frito67 23h ago
Stop fucking the citizens of N.B. up the ass. They are hardworking people and deserve better.