Liberal leadership hopeful Chrystia Freeland will scrap the changes to the capital gains tax she once championed as finance minister if she wins the race to replace Prime Minister Justin Trudeau, Global News has learned.
A source close to Freeland told Global News on background the reversal is meant to counter U.S. President Donald Trump’s tax policies, including plans for lower capital gains and corporate tax rates.
“This puts Canada at a significant risk of losing jobs and investment that will move to the United States instead,” the source said. “We must adapt, and quickly.
“If Chrystia Freeland becomes Prime Minister, a government led by her will not move forward with the legislation to increase the capital gains inclusion rate.”
The source added Trump’s election and Republican control of both chambers of Congress have “dramatically” changed the “economic reality.”
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Bloomberg News first reported Freeland’s position on the capital gains tax, citing a person with knowledge of her …