Carney Scraps Capital Gains Tax Hike Days Before Election Call Amid Economic Backlash

#markcarney #capitalgainstax #canadianpolitics

Carney cancels capital gains tax hike just two days before calling a snap election, igniting debate over political motives and economic impact. The proposed hike—originally set to raise the inclusion rate from 50% to 67%—was fiercely opposed by business leaders, doctors, and taxpayer advocacy groups. Economists warned it would cost 400,000 jobs and shrink Canada’s GDP by nearly $90 billion, according to a CD Howe Institute report. The Canadian Taxpayers Federation even planned to sue the CRA over its early enforcement. In this video, we break down the fallout, the backlash, and why Carney made this move now. Was this an economic correction or pre-election spin? We also hear from Conservative leader Pierre Poilievre, who called the tax “insanity,” and explore what this cancellation means for voters, small businesses, and Canada’s economic future.
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