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

More than a third of Canadians turn to online info due to lack of doctor access: poll

A new poll suggests more than a third of Canadians say they have no choice but to seek health information online because they don’t have access to a doctor, further highlighting challenges posed by an ongoing physician shortage.

More than a third of Canadians turn to online info due to lack of doctor access: poll

Liberal leadership hopefuls distance themselves from carbon pricing

The three frontrunners in the Liberal leadership race have all backed away — to one degree or another — from the Liberal government's keystone climate policy in a bid to take a major Conservative line of attack off the table. The Liberals first campaigned on a carbon price in 2008 and moved to make it happen following Prime Minister Justin Trudeau's election win in 2015.

Liberal leadership hopefuls distance themselves from carbon pricing

Donald Trump signals 25 per cent tariffs on Canadian imports could be coming Feb. 1

U.S. President Donald Trump suggested his administration could move ahead with with 25 per cent across-the-board tariffs on Canadian imports on Feb. 1. He delivered the deadline on Monday evening at the White House as he signed a stack of unrelated executive orders.

Donald Trump signals 25 per cent tariffs on Canadian imports could be coming Feb. 1

Inflation ticks lower to 1.8% in December, thanks in part to GST tax break

Canada’s annual inflation rate fell to 1.8 per cent in December, thanks in large part to the federal government’s temporary tax break. Statistics Canada’s consumer price index report on Tuesday said restaurant food purchases, and alcohol bought from stores contributed the most to the deceleration.

Inflation ticks lower to 1.8% in December, thanks in part to GST tax break

Canada should focus on larger vision in talks with Trump administration: ambassador

Canada's Ambassador to the U.S. Kirsten Hillman says it's now time for Canada to shift its strategy in its conversations with the new administration, away from a transactional approach and toward a larger vision. Hillman told The Canadian Press the goal should be to find ways for the two countries to work together to achieve some of Trump's goals.

Canada should focus on larger vision in talks with Trump administration: ambassador

RCMP Black Hawk helicopters start patrolling Manitoba-U.S. border

RCMP in Manitoba say residents near the U.S. border could start seeing and hearing Black Hawk helicopters on a regular basis as the national police force bolsters its presence in the area. The first patrol flight took off a day before the presidential inauguration of Donald Trump on Monday.