Combined, the government estimates the tax reductions will reduce Ottawa revenues by about $2.9 billion over five years.Morneau on Monday also signalled that he ensure angel investors and venture capitalists, whose financing helps start up companies get off the ground, won face heftier tax burdens. He also wants to avoid subjecting companies to additional red tape, complicating the intergenerational transfer of small businesses or hurting the ability for female entrepreneurs to save money for maternity leaves.The Liberals popularity has taken a hit in some opinion polls amid the backlash to the proposed reforms, first announced in mid July.The damage control effort began Monday with a briefing for Liberal MPs, some of whom have been among the most critical of the proposals. Backbenchers emerged from the meeting saying they feel satisfied that the government has listened to their concerns, although they were not given details of the changes that are to be unveiled in a series of announcements later in the week.feel very, very positive.

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