QUESTION PERIOD — Finance
Tax Rates
June 17, 2024
Leader, my next question is about changes to the capital gains tax. Last Monday, the International Monetary Fund, or IMF, issued a statement which gave Canadians a heads-up that when it comes to tax hikes, raising the capital gains inclusion rate is just the beginning. This wasteful and incompetent NDP-Trudeau government needs a lot more cash to pay for its uncontrolled spending, so the IMF recommends hiking the GST.
Leader, now that the Minister of Finance has done part 1 of IMF’s plan, when can Canadians expect part 2? Is a GST hike under consideration? Yes or no?
I’m not aware of any plans surrounding the GST. The decision that the government made to increase the inclusion rate of capital gains was, in the view of the government, a responsible measure to provide for a greater fairness and equity within our tax code.
Projections from the Trudeau government’s very own budget only two months ago show that every dime it collects through GST this fiscal year — $54.1 billion — is already spoken for, every nickel. This $54.1 billion will cover just the interest on the NDP government’s massive debt. That’s it. So that begs the question: What other surprise tax hikes are coming, leader?
I’m not aware of any other tax hikes or surprises, and if the government has more legislation to introduce or announce, I’m sure that we will be the first to know.
