Prime Minister Justin Trudeau’s former finance minister said he rejected the idea of hiking the capital gains tax while in office due to concerns it would stunt Canada’s economic growth, and called the move “very troubling for many investors.”
Bill Morneau was Trudeau’s first finance minister from 2015 to 2020 before resigning due in part to disagreements over fiscal policy. He said on Wednesday that raising the tax rate on capital gains means people are effectively hit with a retroactive tax increase, since they won’t get the profits they expected from investments.
In the federal budget published Tuesday, ...
