National

Freeland says she's abandoning capital gains tax change because of Trump

Darpan News Desk The Canadian Press, 23 Jan, 2025 02:56 PM

Former finance minister Chrystia Freeland says her promise to repeal changes to the capital gains tax was made in response to Donald Trump's election in the United States.

Freeland is running to be the next leader of the Liberal party and the next prime minister.

She was responding to reports earlier this week that said she'd reverse the capital gains changes she'd once endorsed if she wins the leadership.

We have a fantastic team of Liberals. And I can’t wait to get to work with @viraniarif and @HonAhmedHussen to renew the Liberal Party of Canada and return power to the grassroots.

Sign up to vote. https://t.co/OX0nImMAZ4 pic.twitter.com/JeGe3oUxIc
— Chrystia Freeland (@cafreeland) January 23, 2025

Freeland told reporters in French that her experience renegotiating NAFTA taught her the Trump administration aims to create uncertainty in the world in order to attract investment to the United States.

She said that in light of that threat, Canada needs to change its own policies to respond in the event Trump relaxes capital gains laws in the United States.

The Biden administration had proposed increases to capital gains for 2025.

Prev Next

MORE National ARTICLES

Canadians warned to use caution in South Korea after martial law declared then lifted

Global Affairs Canada is warning Canadians in South Korea to avoid demonstrations and exercise caution after the country's president imposed an hours-long period of martial law. The situation in South Korea arose after President Yoon Suk Yeol imposed martial law on Tuesday, vowing to eliminate what he described as "anti-state" forces from the opposition that controls parliament.

Canadians warned to use caution in South Korea after martial law declared then lifted

Manitoba government promises trade office in U.S. capital to boost economy

The Manitoba government is planning to open a trade office in Washington, D.C., in the new year to deal with threatened United States tariffs and promote investment opportunities in provincial sectors such as mining and aerospace. The move would bring Manitoba in line with Ontario, Alberta and some other provinces that have full-time trade representatives in the U.S. capital.

Manitoba government promises trade office in U.S. capital to boost economy

'Sleeping with the enemy': Mistrial in B.C. sex assault over Crown dating paralegal

The B.C. Supreme Court has ordered a new trial for a man convicted of sexual assault after he learned his defence lawyer's paralegal was dating the Crown prosecutor during his trial. Justice Veronica Jackson ruled last week in Courtenay, B.C., that Cameron Gagne should get a new trial because his lawyer, Eric Chesterley, and prosecutor Nicholas Grabe failed to tell the court about the relationship.

'Sleeping with the enemy': Mistrial in B.C. sex assault over Crown dating paralegal

B.C. woman on the lam in $60,000 Alberta meat scam arrested in Ontario

A B.C. woman charged in connection with a 60-thousand-dollar meat scam last year has been arrested in Ontario. RCMP say Krysta-Lyn Williams of Penticton, was arrested in Picton, Ontario, last week with the assistance of Ontario Provincial Police.

B.C. woman on the lam in $60,000 Alberta meat scam arrested in Ontario

Fatal crash on Trans Canada Highway

Two people are dead and a third is in critical condition after a single-vehicle crash on the Trans Canada Highway in British Columbia. The RCMP in Ashcroft, west of Kamloops, say they were called to the scene Sunday at around 10:15 p.m.

Fatal crash on Trans Canada Highway

Fog advisory lifts for Vancouver area, but near-zero visibility could return

A fog advisory that covered much of Metro Vancouver and the Fraser Valley has been lifted by Environment Canada. The thick blanket of fog that left near-zero visibility in some areas was created by a ridge of high pressure over parts of southern B.C.