Trudeau defends capital gains tax hike

Canada's capital gains tax increase comes into effect on June 25. The federal government has tabled legislation to increase the inclusion rate from one-half to two-thirds on capital gains above $250,000 per year for individuals, and on all capital gains realized by corporations and trusts. The tax hike is projected to pull in roughly $19 billion in new revenue. Finance Minister Chrystia Freeland said Canada needs the revenue to invest in pharmacare, dental care, childcare and the green energy transition. Conservative Leader Pierre Poilievre said his party will oppose the increase, arguing it disproportionately affects wealthy people and big corporations. He claimed the tax increase will worsen the country's family doctor shortage because it will levy higher taxes on a physician's retirement savings — possibly driving these doctors to retire now or move their practices abroad. In an interview with CBC’s Power & Politics, Prime Minister Justin Trudeau explains why he supports the hike. #Canada #cdnpoli Read more: http://www.cbc.ca/news »»» Subscribe to CBC News to watch more videos: http://bit.ly/1RreYWS Connect with CBC News Online: For breaking news, video, audio and in-depth coverage: http://bit.ly/1Z0m6iX Follow CBC News on TikTok: https://bit.ly/3TnHioe Follow CBC News on Twitter: http://bit.ly/1sA5P9H Find CBC News on Facebook: http://bit.ly/1WjG36m Follow CBC News on Instagram: http://bit.ly/1Z0iE7O Subscribe to CBC News on Snapchat: https://bit.ly/3leaWsr Download the CBC News app for iOS: http://apple.co/25mpsUz Download the CBC News app for Android: http://bit.ly/1XxuozZ »»»»»»»»»»»»»»»»»» For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.