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

As Liberals set up leadership race, members differ on how the leader should be picked

As the Liberal party begins charting a course for an expedited race to replace Justin Trudeau, some former party advisers are split on just how swift that race should be, and who exactly should pick the next leader. Some are also warning about the potential for bad actors to try and influence the outcome or take over the party.

As Liberals set up leadership race, members differ on how the leader should be picked

Biden praises Trudeau as friend, defender of freedom after resignation news

The foreign ministers of Japan and Ireland also thanked Trudeau for his service, while the U.K. government issued a statement. But other world leaders have been silent on his departure plans, including those in the Group of Seven, which Trudeau is chairing.

Biden praises Trudeau as friend, defender of freedom after resignation news

No 'snowball's chance in hell' of Canada becoming 51st state: Trudeau

Prime Minister Justin Trudeau says there "isn’t a snowball’s chance in hell that Canada would become part of the United States" after president-elect Donald Trump threatened Tuesday to use "economic force" to compel Canada to join with the U.S. Trudeau posted on social media that workers and communities in both countries benefit from being each other’s biggest trading and security partner.

No 'snowball's chance in hell' of Canada becoming 51st state: Trudeau

David Eby among premiers heading to Washington to tamp down Trump tariff threat

British Columbia Premier David Eby says he and his counterparts from across Canada will take leadership in the fight against threatened tariffs from U.S. president-elect Donald Trump. Eby says he and other premiers plan to go to Washington where Trump will be inaugurated this month to try to convince him to back away from his tariff plan.

David Eby among premiers heading to Washington to tamp down Trump tariff threat

Ontario launches border-strengthening operation as Trump tariff threat looms

Ontario will beef up security along its border with the United States as part of its response to tariff threats from U.S. president-elect Donald Trump, Premier Doug Ford said Tuesday. The move, dubbed Operation Deterrence, will see some 200 Ontario Provincial Police officers focused on boosting border security. The OPP has been increasing patrols along the vast border using airplanes, helicopters drones, boats and patrol vehicles.

Ontario launches border-strengthening operation as Trump tariff threat looms

Liberals split on how quickly to proceed with choosing new leader

Attention is turning quickly in Ottawa to who will replace Justin Trudeau who announced Monday he will step aside as prime minister and Liberal leader as soon as a new leader is chosen. But some former Liberal advisers are split on how quickly the process should move.