Trudeau Defends Capital Gains Tax Increase Amid Growing Criticsm

Prime Minister Justin Trudeau pushed back at increased criticism of his government’s move to raise capital gains tax in the 2024 federal budget. Mr. Trudeau spoke in Saskatoon, Saskatchewan, on April 23, defending the increase in capital gains tax as fairness for younger generations when confronted with recent statements by former Liberal finance minister Bill Morneau. Last week, Mr. Morneau stated that the raise on capital gains—which will see those making over $250,000 per year from capital gains pay tax on 66.7 percent of the gains, rather than the previous rate of 50 percent—is a threat to investment. Mr. Trudeau told reporters that the change in capital gains tax was aimed at helping younger generations....