Liberal-NDP government votes to increase capital gains tax

As a result of a Motion (not legislation) brought before the House of Commons on June 12th, Justin Trudeau will very soon hike taxes on homebuilding during a housing shortage. He will raise taxes on doctors during a doctor shortage. He will hike taxes again on farmers during a food cost crisis and on small business as Canadians’ paycheques are shrinking.

Conservative MPs were the only ones to vote against this misguided, irresponsible and unfair increase.

After nine years of Justin Trudeau, this latest Liberal tax hike is the last thing that Canadians need. Yet, the Liberal-NDP Government is continuing to push it through despite mounting opposition from doctors, small business owners, builders and workers. In fact, the House of Common’s Finance Committee has not heard one second of witness testimony from the people who will pay for this tax increase.

The Liberals are not even pretending to listen to Canadians anymore and they are getting this one very, very wrong.

Chrystia Freeland, the Minister of Finance, has misrepresented both the “need” for this tax and who it will affect. The Liberals completely ignored recommendations by The Joint Committee on Taxation of the Canadian Bar Association, CPA Canada and the Canadian Medical Association, not to mention numerous financial experts.

Following Tuesday’s vote, Conservatives put forward a motion calling for emergency Finance Committee meetings to study the devastating impacts the Prime Minister’s tax increase will have on Canadians and the economy.

Stephanie and her Official Opposition colleagues believe it is essential for Justin Trudeau to understand the impacts that this tax increase will have before it takes effect in just two weeks time. She spoke about her concerns in her speech on the Estimates last week.

Conservatives will also call on Trudeau’s Finance Minister, Chrystia Freeland, to testify at these emergency Committee meetings. Over the past few days, Freeland has tried to justify this tax by saying the rich will pay more. In reality, Freeland gave billionaires a two-month window to sell their investments and move their money abroad to pay lower taxes building foreign businesses. What she has actually done is similar to a Ponzie scheme – she has created a situation where tax revenues for this year will be increased to the detriment of future years.

Already, nine out of ten middle-class Canadians are paying higher income tax than they were before Trudeau became Prime Minister. With this new tax hike, it’s clear that working Canadian families will have to foot the bill for Trudeau’s wasteful spending yet again.

As the NDP and Bloc Quebecois voted in favour of the Liberal motion, they should be more than willing to support the Conservative motion and explain their support for Trudeau’s tax increase. As the Leader of the Official Opposition explained, only Common Sense Conservatives will axe the tax and bring home powerful paycheques for all Canadians.