Article content
In the wake of Tuesday’s federal budget, Prime Minister Justin Trudeau took aim at Pierre Poilievre in a campaign-style attack saying the Conservative leader wants to protect the wealthy from tax increases.
The budget includes billions in new spending and continues high deficits through the next five years, which Poilievre described as “wasteful” and said the growing debt was taking money away from Canadians’ real priorities.
Article content
The budget also included a capital gains tax increase. The increase applies to profit from selling stock or secondary homes. The income is normally taxed at 50 per cent of its value but the change introduced Tuesday will levy taxes on 66.7 per cent of the profit for gains over $250,000 for individuals, trusts and corporations.
Article content
The Liberals say they are “asking the wealthiest Canadians to pay their fair share” by increasing the taxes on profits from capital gains, as they aim to pay for their billions in new expenses.
NDP Leader Jagmeet Singh had asked the Liberals to present measures to make big corporations pay their “fair share” but said he was dissatisfied with what was in the budget.
Get more deep-dive National Post political coverage and analysis in your inbox with the Political Hack newsletter, where Ottawa bureau chief Stuart Thomson and political analyst Tasha Kheiriddin get at what’s really going on behind the scenes on Parliament Hill every Wednesday and Friday, exclusively for subscribers. Sign up here.
Recommended from Editorial
Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com and sign up for our politics newsletter, First Reading, here.
Share this article in your social network
