Canada's capital gains tax rise will further knock productivity, say economists

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Prices at the Pumps - April 17, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesTORONTO - Canada's plan to raise taxes on the savings of wealthy people and corporations is likely to hold back investment, potentially adding to the productivity malaise that has held back economic growth in recent years, say economists.

"Less reward after-tax is likely to discourage risk-taking. Discourage investment. Discourage anything that might address Canada's productivity problems." "Our lagging productivity and stalled GDP growth means Canadians are becoming collectively poorer and working harder to just remain where they are today."

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