NDP Leader Jagmeet Singh will lay out his party’s proposal to increase taxes on capital gains during a keynote speech today to the Broadbent Institute’s Progress Summit in Ottawa. (THE CANADIAN PRESS/Justin Tang)

Federal NDP proposes hiking taxes on capital gains from investments

NDP Leader Jagmeet Singh will lay out his party’s proposal today in Ottawa

Federal New Democrats say they would hike the tax on investment profits to pay for pharmacare as well as more affordable childcare and housing.

NDP Leader Jagmeet Singh will lay out his party’s proposal to increase taxes on capital gains during a keynote speech today to the Broadbent Institute’s Progress Summit in Ottawa.

READ MORE: NDP leader Singh promises action on affordable housing after winning byelection

The plan is expected to form a key plank in the NDP’s election platform this fall alongside other policy proposals that the party says will target the rich, pay for more services for Canadians and cool the housing market.

The NDP is specifically looking to tax 75 per cent of profits on investments, up from the current rate of 50 per cent, which it says will raise about $3 billion for the federal treasury.

New Democrats have also talked about closing a stock-option loophole and cracking down on the use of bearer shares and foreign tax havens which they say help the rich avoid paying their fair share of taxes to society.

Some, however, have defended the stock-option loophole as important for attracting talent and encouraging start-ups while numerous governments have promised but largely failed to address tax havens.

The Canadian Press

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Sylvan Lake businesses satisfied working in town, survey

The Chamber surveyed 100 local businesses and found 82 per cent are satisfied working in Sylvan Lake

UPDATE: Sylvan Lake RCMP on scene at serious, multi vehicle collision

There is no access westbound on Aspelund Road from the intersection.

Sylvan Lake Chamber of Commerce urges for end to rail blockades

Chamber President Keri Pratt urged the MP Blaine Calkins to help bring an end to the disruptions

Sylvan Lakers take a frozen dip for a cause

The annual Polar Bear Dip held during Winterfest is a fundraiser for organizations around town

Sylvan Lake Wranglers advance to face rival Red Deer

The Sylvan Lake Wranglers defeated the Rocky Rams in first round playoff action three games to one

Blair says RCMP have met Wet’suwet’en conditions, calls for end to blockades

The Wet’suwet’en’s hereditary chiefs oppose the Coastal GasLink project

Portrait of the Coastal GasLink, a pipeline to divide a nation

In mid-February, 46 per cent of the pipeline route had been cleared

Alberta ends master agreement with doctors, new rules to be in place April 1

The current master agreement with physicians ends March 31

Alberta rail conductor fired for social media posts awarded money, but not reinstatement

Arbitrator Richard Hornung says that he agreed with the Teamsters union

Kids exposed to household cleaners as newborns more likely to get asthma: study

Air fresheners, plug-in deodorizers, antimicrobial hand sanitizers and oven cleaners were the worst culprits

Burger King breaks the mould with new advertising campaign

The company is known for irreverent ad campaigns

PHOTOS: RCMP call on kids to name latest police puppy recruits

This year’s theme is the letter ‘N,’ and 13 German shephards must be named

Federal minister pledges to meet Wet’suwet’en chiefs in B.C. over natural gas pipeline

The Wet’suwet’en hereditary chiefs say they are visiting Mohawk territory

Pipeline dispute: Tories put no-confidence motion on House of Commons agenda

Conservatives say they have no confidence in the Trudeau government to end the rail blockades

Most Read