Capital gains tax changes will not move forward, Carney confirms – National [Video]

Days before he’s expected to call a federal election, Prime Minister Mark Carney is confirming he won’t move ahead with a key Liberal tax policy.

The Prime Minister’s Office says a plan to hike the inclusion rate on capital gains, first pitched in the federal budget last year, will not move forward.

The proposal was set to take effect on June 25 of last year and would have seen all businesses and individuals reporting more than $250,000 in capital gains in a year pay more tax on those proceeds.

The tax change drew sharp criticism from some tech leaders and professional groups and the Liberals never passed legislation to enact it.

Conservative Leader Pierre Poilievre promised in January to reverse the changes to capital gains taxes if he takes power in the next federal election.