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OPINION: Liberal Government's Higher Capital Gains Taxes Won't Work as Claimed, but Will Harm the Economy and Canada's Growth Prospects
Friday, April 26, 2024
Vancouver, BC, April 26, 2024--Amid a federal budget riddled with red ink and tax hikes, the Trudeau government has increased capital gains taxes.
The move will be disastrous for Canada's growth prospects and its already-lagging investment climate, and to make matters worse, research suggests it won't work as planned.
Canada currently faces the lowest growth prospects among all OECD countries in terms of GDP per person, and the problems with hiking capital gains taxes are numerous and reduce the incentive to innovate and invest.
Alex Whalen and Jake Fuss are analysts at the Fraser Institute.
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Globe and Mail Posted: Apr 26, 2024 |
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