Canadian Government Plans to Make Wealthiest Canadians Pay More in 2024 Budget

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Canada,Government,Budget

The Canadian government, led by Deputy Prime Minister and Minister of Finance Chrystia Freeland, is planning to introduce measures in the 2024 budget to ensure that the wealthiest Canadians contribute more. However, the specific details of these measures have not been disclosed yet. The government has been making various announcements across the country, primarily focused on housing and rental construction initiatives, in the lead-up to the budget release on April 16.

Deputy Prime Minister and Minister of Finance Chrystia Freeland tries on a pair of shoes from direct-to-consumer footwear company Maguire during a pre-budget photo op in her office in Ottawa, Monday, April 15, 2024.The Liberals plan to include measures in the 2024 budget to make sure the wealthiest Canadians “pay more,” according to three government sources.

Over the last few weeks, Prime Minister Justin Trudeau and his cabinet ministers have crisscrossed the country making announcements ahead of the April 16 budget, with those announcements representing When asked about the possibility of increasing taxes on the top income earners, NDP Leader Jagmeet Singh pushed for increased taxes on high corporate profits — something the NDP have been in favour of for a long time.“We absolutely believe that the wealthy should pay their fair share, but what we’ve been focused on when we look at the cost of living crisis were in its large corporations that are exploiting Canadians. That’s been our focus,” Singh told reporters prior to question period.

“According to Scotiabank, the prime minister’s deficits are adding two-fold percentage points extra in interest costs for the average family. That works out to about $6,000 for a modest mortgage of $300,000. Six grand in extra mortgage payments from these deficits alone. Will they finally wake up to the fact this NDP-Liberal prime minister is not worth the cost?” Poilievre asked in the House of Commons.

 

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