News Summary

In a significant shift, Liberal leadership candidates Mark Carney, Chrystia Freeland, and Karina Gould have signaled their willingness to reverse the controversial capital gains tax rate changes proposed in last year’s budget. The policy, which aimed to increase the inclusion rate on capital gains from one-half to two-thirds, faced strong opposition from Canadian tech leaders. Carney criticized the policy for sending the wrong signal to innovators and builders crucial for economic growth. Freeland’s campaign has confirmed she will not pursue the legislation, citing economic uncertainties. Gould expressed the need for better options and dialogue with affected tech leaders. This development comes after Conservative leader Pierre Poilievre’s pledge to scrap the changes if elected. The leadership hopefuls’ reconsideration of the policy has been welcomed by tech industry representatives.