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Canadian business groups urge government to scrap capital gains tax hike

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What's different a year after the wildfires? | SaltWire #novascotia #firefighting #wildfires #newsTORONTO - Some of Canada's biggest business lobby groups on Thursday asked Prime Minister Justin Trudeau's Liberal government to scrap a planned tax hike on capital gains, a move they said would stifle growth and investment climate in the country.

The Council of Canadian Innovators and Canada Federation of Independent Business, are the latest business groups to urge Finance Minister Chrystia Freeland to reverse the decision. Doctors, mining companies and others previously objected to the tax plan. "We are calling on the federal government to scrap this disastrous tax hike on investment, and listen to the innovators who are trying to create a more prosperous future for every generation," the CCI added.

Several economists and investor groups have said that the increased tax would further deteriorate Canada's productivity and choke investments in key sectors.

 

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