The 2024 Federal Budget promises to make the tax system more fair for 99.87 per cent of Canadians.
According to the budget, the inclusion rate for capital gains – the portion on which tax is paid – for the wealthiest with more than $250,000 dollars in capital gains in a year will increase from one-half to two-thirds.
Deputy Prime Minister and Minister of Finance Chrystia Freeland says they are ensuring the very wealthiest pay their fair share. She notes that together we will unlock the door to the middle class for more Canadians and renew the promise of our great country.
Meanwhile, Pierre Poilievre – the Official Opposition Leader and the Conservative MP for Carleton – says this is a ninth consecutive deficit with a budget still not balancing itself, and everything on which the Prime Minister spends gets worse and more costly. He says Justin Trudeau has spent and Canadians are broke.
According to the Fraser Institute – an independent, non-partisan Canadian public policy think-tank – the federal debt will climb $156.2 billion dollars from now until April of 2029, due to this budget’s large increase in deficit-financed spending.
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