Conservative Party Leader Pierre Poilievre said a Tory government would cancel the hike on the capital gains tax, citing concerns about job losses and the threat of tariffs from the incoming U.S. administration.
“I am announcing today common sense Conservatives will reverse last June’s Liberal tax hike on capital gains—a tax economists agree will kill 400,000 jobs,” Poilievre said on social media platform X on Jan. 16.
Poilievre said the idea was “bad” before U.S. President-elect Donald Trump threatened 25 percent tariffs on Canada and now it’s “outright insanity.”
The Liberal government announced the capital gains tax hike in Budget 2024 and the measure was subsequently adopted by the House of Commons in June through the passing of a ways and means motion. Conservatives were the only party to oppose it….