Bay of Quinte riding MP Ryan Williams says Prime Minister Trudeau is killing jobs with the capital gains tax hike.
Williams and his Conservative Party say the government is hiking taxes on home building during a housing shortage, raising taxes on doctors during a doctor shortage and increasing them on small business owners while Canadians paycheques are shrinking.
“This is a job-killing Trudeau tax and will drive billions of dollars of machines, technology, business and paycheques out of our country,” says Williams.
The local MP says experts with the Canadian Medical Association and the Canadian Federation of Independent Business agree with the Conservative position.
The capital gains tax change, coming into effect on June 25, will see the inclusion rate for individuals raised to 67 per cent from 50 per cent if they earn more than $250,000 a year in capital gains selling stocks or secondary properties.
The Liberals maintain the move will make the tax system more fair, believing the wealthy should pay a little more to help with the costs of housing and other programs that benefit lower income Canadians.
