Just The Facts: Liberal Tax Hike Will Lead To 400,000 Fewer Jobs

January 14, 2025 at 6:40 am  Federal, Politics

Ottawa, ON – After nine years, the Liberal Government has impoverished Canadians. This was made clear in a report released by the CD Howe Institute today, which revealed that the NDP-Liberal capital gains tax hike will devastate the Canadian economy.

The Liberal Government’s capital gains tax hike is a direct hit on homebuilding, doctors, farmers and small businesses. As a result of this, the CD Howe Institute has predicted that Canada’s employment will decline by an additional 414,000 jobs, at a time when Canada’s unemployment rate is already surging.

On top of this, the tax hike will cause Canada’s GDP to decline by $90 billion while GDP per capita will decrease by 3 percent, mostly within the next five years. This follows another report from Statistics Canada in November which revealed that Canada’s GDP per capita had fallen for six consecutive quarters. This, combined with President-elect Trump’s threat of a 25 percent tariff, will push Canada’s already weak and failing economy over the edge.

Common Sense Conservatives warned the Liberals that this job-killing tax hike will drive billions of dollars out of our country. But they refused to listen. Worse still, the Liberals’ tax hike legislation was never even introduced in the House of Commons. But after Justin Trudeau inflicted chaos on Canadians by shutting down Parliament, the Canadian Revenue Agency is collecting this tax anyway before it has even been made law. The Liberals’ chaos and economic vandalism cannot continue. That’s why we need an election so Common Sense Conservatives can axe the tax to bring home powerful paycheques for all Canadians.

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