Ottawa, ON – After 9 years of the NDP-Liberals, Canadians are hurting. Housing costs have doubled, our healthcare system is in crisis and Canadians will spend $800 more on groceries this year. And now, we’re staring down the barrel of 25% tariffs from the US that would devastate our economy. But instead of making us more competitive, Carbon Tax Carney, Carbon Tax Chrystia and Justin Trudeau have hiked taxes on Canadians yet again in the form of a job-killing capital gains tax increase.
Today, the CD Howe Institute released yet another devastating report on this tax hike. Even though no law has been passed, the NDP-Liberals have started collecting this extra tax anyway. This is forcing Canadians to choose between paying a tax that might never become law or risk being penalized. “The federal government’s proposed increase to the capital gains inclusion rate has created a nightmarish scenario for taxpayers. The government should abandon the proposed increase…This administrative limbo erodes public confidence in the tax system, as taxpayers and tax preparers struggle with a rule that might never be legally enacted.”
They go further to say: “Canadians deserve a predictable tax system, not one that forces them to hedge bets on unpassed legislation.”
The CD Howe Institute has previously explained that this tax hike would cost Canadians 414,000 jobs, and cause Canada’s GDP to decline by $90 billion. The tax will make homebuilding more expensive during a housing crisis, force doctors to leave Canada during a doctor shortage and make food more expensive during a cost-of-living crisis.
Common Sense Conservatives will axe the tax hike and pay for it by cutting taxpayer-funded corporate welfare and handouts. A Poilievre government will end the unconstitutional bill C-69 and green light green projects to unleash the power of our economy and our incredible workers. Let’s bring it home.