CCI Response to Capital Gains Policy Vote

Today, members of parliament in Ottawa voted to pass a measure related to the government's plan to increase the capital gains inclusion rate in many situations. In response to today's announcement, CCI President Benjamin Bergen issued the following statement, on behalf of CCI's members:

“We are in the midst of a national productivity crisis, with economic indicators telling us that we are not on a good path. Meanwhile, we are watching the federal government doing exactly what experts have warned against — making it harder for Canadian companies to grow, build and hire.

"Raising taxes on investment will stifle innovation and the kind of productivity growth that drives of prosperity at a time when Canada can least afford it. Canadian business leaders — alongside doctors, farmers, and Canadians at large — have been pressing the government to scrap the capital gains tax hike and focus instead on strategies that drive long-term wealth creation and economic growth.

"The adjustments to the Canadian Entrepreneurs Incentive do little to offset the harm caused by the capital gains tax hike. Rolling back these changes remains the best course of action, and CCI will continue to advocate for policies that support a strong innovation economy while closely monitoring the impact of these decisions.”

Media Contact:
James McLeod
Director of Communications
jmcleod@canadianinnovators.org