Canada Raises Capital Gains Tax Amid Economic Concerns

The Canadian government's decision to increase capital gains taxes is aimed at funding housing initiatives but faces backlash from businesses over potential investment and productivity impacts.

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.