-- 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.
“We resisted it for a very specific reason: concerned about the growth of the country,” said Morneau, who now holds several roles including on the boards of Canadian Imperial Bank of Commerce and NovaSource Power Services. More broadly, Morneau criticized the amount of new spending in Freeland’s budget, especially when stacked on top of big-spending budgets from provinces this year.
“I just don’t think you can tax your way to prosperity,” Ontario Finance Minister Peter Bethlenfalvy said on Bloomberg TV, noting that Ontario is extending a gasoline and fuel tax cut.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trudeau’s Ex-Finance Minister Criticizes Capital Gains Tax HikePrime 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.”
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Freeland tables her fourth federal budget — this time with a tight focus on housingDeputy Prime Minister and Minister of Finance Chrystia Freeland will deliver her fourth federal budget Tuesday.
Source: CBCNews - 🏆 2. / 99 Read more »
Ontario budget to be 'prudent and responsible': finance ministerIt's budget day in Ontario, and the finance minister is set to present his plan to bolster the economy ahead of an expected slowdown, while also trying to ease the rising cost of living
Source: SooToday - 🏆 8. / 85 Read more »
Liberal MPs call on finance minister to fund disability benefit in upcoming budgetDozens of Liberal members of Parliament are calling on the finance minister to set aside money for the Canada Disability Benefit in next month's federal budget.
Source: CP24 - 🏆 30. / 67 Read more »
Liberal MPs call on finance minister to fund disability benefit in upcoming budgetOTTAWA — Dozens of Liberal members of Parliament are calling on the finance minister to set aside money for the Canada Disability Benefit in next month's federal budget.
Source: sudburydotcom - 🏆 6. / 89 Read more »