News Summary

Pierre Poilievre, leader of Canada’s Conservative Party, has pledged to reverse the Liberal government’s proposed changes to the capital gains tax if elected. The changes include increasing the inclusion rate on capital gains from one-half to two-thirds, which has been met with opposition from Canadian tech leaders and entrepreneurs. Poilievre aims to create a fair tax environment that would allow Canadian companies to scale globally. The announcement comes amid political uncertainty in Canada, following Finance Minister Chrystia Freeland’s resignation and Prime Minister Justin Trudeau’s plans to prorogue Parliament. The Canada Revenue Agency is still proceeding under the assumption that the changes will be implemented, although they have not been enacted into law.