Overview

• Canada's government has increased the capital gains tax rate to generate billions for housing, impacting businesses and wealthy individuals.
• Business leaders express concerns that the new tax measures could exacerbate Canada's existing productivity challenges.
• The tax increase is part of a broader budget strategy to address housing affordability and economic inequality.
• Critics argue the move could deter investment and slow economic growth, with potential long-term consequences for the national economy.
• Finance Minister Chrystia Freeland defends the tax hike as necessary despite concerns from the business community.