QUESTION PERIOD — Finance
Tax Fairness
February 25, 2026
I have a question for Senator Moreau. The world is in the grip of the virus of inequality. International evidence shows tax systems can either reduce or worsen inequality depending on design, and some governments are increasingly considering wealth-based taxation as part of the reforms to try to narrow the gap between the very rich and those who are not. Will the government commit to a formal review of wealth taxation options and report back to Parliament?
You are very well aware, Senator McPhedran, that I cannot answer this question because I cannot speak for the government on those issues.
Thank you for raising the question. If our Question Period is being heard outside this building, those who are able to answer the question will be following it.
Senator Moreau, I have just a quick supplementary question to that. The 2025 Parliamentary Budget Officer reported that wealth inequality is growing in Canada, with the top 1% holding about a quarter of Canada’s wealth, while many Canadians struggle with housing and basic food costs.
Oxfam Canada estimates a wealth tax on fortunes over $10 million could raise $120 billion. Could you please report back on whether the government is considering wealth tax options?
I’ll take your question as a commentary, and I will certainly make the follow-up. I will see if I have something to report on your question.
