Trudeau's Ex-Finance Minister Criticizes Capital Gains Tax Hike [Financial Post (Toronto, Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
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Source: Financial Post
it would stunt Canada's economic growth, and called the move “very troubling for many investors.” Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Prime Minister Justin Trudeau's former finance minister said he rejected the idea of hiking the capital gains tax while in office due to concerns it would stunt Canada's economic growth, and called the move “very troubling for many investors.” Bill Morneau was Trudeau's first finance minister from 2015 to 2020 before resigning due in part to disagreements over fiscal policy. He said on Wednesday that raising the tax rate on capital gains means people are effectively hit with a retroactive tax increase, since they won't get the profits they expected from investments. Article content Article content In the federal budget published Tuesday, Finance Minister Chrystia Freeland unveiled a measure to raise the capital gains tax inclusion rate to two-third
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