Conservatives won't say whether they'd reverse capital gains tax change
Despite expressing vehement opposition to the newly unveiled federal budget, Conservative deputy leader Melissa Lantsman would not say whether her party would reverse the Liberals鈥 plan to increase the capital gains inclusion rate.
The 416-page budget, tabled in the House of Commons on Tuesday, includes plans to increase the capital gains inclusion rate 鈥 the share of capital gains that are taxed 鈥 from 50 per cent to 67 per cent.
As of June 25, people with more than $250,000 in capital gains in a year will have to pay taxes on a larger portion of that money. The inclusion rate will also increase for the capital gains of corporations and trusts.
According to the federal government, the change would affect very few people, compared to the $19.3 billion it would bring in over the next five years, but many Canadian business owners and entrepreneurs have raised concerns that the move could stunt innovation.
Conservative Leader Pierre Poilievre has called the budget 鈥渨asteful鈥 and 鈥渋nflationary,鈥 while vowing to vote against it.
But when specifically asked by CTV鈥檚 Question Period host Vassy Kapelos 鈥 during a panel interview with NDP finance critic Don Davies that airs Sunday 鈥 whether the Conservatives would reverse the capital gains tax changes, Lantsman wouldn鈥檛 say.
鈥淲e're going to continue to focus on axing the tax and building the homes and fixing the budget and stopping the crime,鈥 she said. 鈥淭hat's what we're talking about with Canadians.鈥
Lantsman added that the Conservatives will unveil their plan 鈥渋n a platform in the next election.鈥
And when pressed on the party鈥檚 position on the specific measure to increase the capital gains inclusion rate, Lantsman again said the Conservatives will state their plans come election time.
鈥淲e're going to continue to fight the fight that we have been fighting for everyday Canadians who are paying far too much, paying more for gas, for groceries, for home heating,鈥 she said. 鈥淭hey can't afford to live, and that's why we are going to vote against this budget.鈥
The Bloc Quebecois and the Greens have also pledged to vote against the budget.
The NDP, meanwhile, say they have yet to decide whether they will support it. But during the panel with Lantsman, Davies said his party has called for additional measures to bring in more money, namely a one-time excess profits tax on oil and gas companies.
When asked how the government could prevent such a tax from being passed on to consumers, Davies said one 鈥渃ould make that argument about all taxes.鈥
鈥淚 mean, by that argument, you'd have no taxes on corporations, because some of it can be flowed through, it's true, but a lot of it is not,鈥 he said, adding his party wants to see oil and gas companies pay their 鈥渇air share.鈥
Davies, though, did not quantify what the NDP views as a 鈥渇air share.鈥
IN DEPTH
Jagmeet Singh pulls NDP out of deal with Trudeau Liberals, takes aim at Poilievre Conservatives
NDP Leader Jagmeet Singh has pulled his party out of the supply-and-confidence agreement that had been helping keep Prime Minister Justin Trudeau's minority Liberals in power.
'Not the result we wanted': Trudeau responds after surprise Conservative byelection win in Liberal stronghold
Conservative candidate Don Stewart winning the closely-watched Toronto-St. Paul's federal byelection, and delivering a stunning upset to Justin Trudeau's candidate Leslie Church in the long-time Liberal riding, has sent political shockwaves through both parties.
'We will go with the majority': Liberals slammed by opposition over proposal to delay next election
The federal Liberal government learned Friday it might have to retreat on a proposal within its electoral reform legislation to delay the next vote by one week, after all opposition parties came out to say they can't support it.
Budget 2024 prioritizes housing while taxing highest earners, deficit projected at $39.8B
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
'One of the greatest': Former prime minister Brian Mulroney commemorated at state funeral
Prominent Canadians, political leaders, and family members remembered former prime minister and Progressive Conservative titan Brian Mulroney as an ambitious and compassionate nation-builder at his state funeral on Saturday.
Opinion
opinion Don Martin: Gusher of Liberal spending won't put out the fire in this dumpster
A Hail Mary rehash of the greatest hits from the Trudeau government鈥檚 three-week travelling pony-show, the 2024 federal budget takes aim at reversing the party鈥檚 popularity plunge in the under-40 set, writes political columnist Don Martin. But will it work before the next election?
opinion Don Martin: The doctor Trudeau dumped has a prescription for better health care
Political columnist Don Martin sat down with former federal health minister Jane Philpott, who's on a crusade to help fix Canada's broken health care system, and who declined to take any shots at the prime minister who dumped her from caucus.
opinion Don Martin: Trudeau's seeking shelter from the housing storm he helped create
While Justin Trudeau's recent housing announcements are generally drawing praise from experts, political columnist Don Martin argues there shouldn鈥檛 be any standing ovations for a prime minister who helped caused the problem in the first place.
opinion Don Martin: Poilievre has the field to himself as he races across the country to big crowds
It came to pass on Thursday evening that the confidentially predictable failure of the Official Opposition non-confidence motion went down with 204 Liberal, BQ and NDP nays to 116 Conservative yeas. But forcing Canada into a federal election campaign was never the point.
opinion Don Martin: How a beer break may have doomed the carbon tax hike
When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.
CTVNews.ca Top Stories
Three men were injured after trying to subdue a man armed with a knife during afternoon prayers at a Montreal-area mosque Friday afternoon.
鈥楾icking time bomb鈥: Those who raised suspicions about Trump suspect question if enough was done
The more Chelsea Walsh talked to the eccentric fellow American who seemed to pop up in every square and cobblestone street of Ukraine's capital, the more she got creeped out.
Andre De Grasse soaking in the moment, enjoying reception after Olympic gold in Paris
Andre De Grasse, fresh off of winning Olympic gold in the 4x100-metre rally in Paris 2024, has been in Toronto for the latest few weeks as part of the Toronto International Film Festival.
Myths busted and lessons learned: John Vennavally-Rao on his surgery to reverse his ostomy
Twenty-seven year 麻豆影视 reporter and anchor John Vennavally-Rao shares his story of what it was like to have an ostomy bag as part of his health-care battle. 'I鈥檓 grateful for what it did to extend my life,' he writes in a personal column for CTVNews.ca.
Kamala Harris accepts CNN debate invitation for Oct. 23, challenging Trump to another showdown
U.S. Vice-President Kamala Harris on Saturday accepted an invitation from CNN to debate former U.S. president Donald Trump on Oct. 23.
Kids are inhaling 'Galaxy Gas' to get high. Here鈥檚 what parents should know
For some young people, a popular method for getting a quick high is by misusing laughing gas 鈥 and lately, that鈥檚 in the form of nitrous oxide from products sold by the company Galaxy Gas.
The London Police Service (LPS) is currently investigating a suspicious death in the east end.
Housing support for adult children with severe autism is 'absolutely absurd,' say parents
Looking after an adult with severe autism can be a full-time job. Ask any parent who has a child severely affected by autism spectrum disorder 鈥 it鈥檚 a job that can get more difficult as the child becomes an adult.
Ariana Grande, Billie Eillish and Chappell Roan among stars set for 'SNL' Season 50
'Saturday Night Live' will have a slew of famous faces to help kick off its historic 50th season when the show returns later this month.
Local Spotlight
Cole Haas is more than just an avid fan of the F.W. Johnson Wildcats football team. He's a fixture on the sidelines, a source of encouragement, and a beloved member of the team.
Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.
An anonymous business owner paid off the mortgage for a New Brunswick not-for-profit.
They say a dog is a man鈥檚 best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.
A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.
Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.
The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.
The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.
It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.