Trump FORCES Freeland to SCRAP capital gains tax hike
Canada needs to change its own policies to respond in the event Trump relaxes capital gains laws in the United States, Freeland told reporters.
MP Chrystia Freeland continues to backtrack on policies she championed not long ago. As finance minister she angered Canadians, and now she hopes to win them over.
The four-term MP will scrap the capital gains tax hike she proposed last June 11 if chosen to replace Justin Trudeau, reported CBC News.
That marks the second Liberal policy she has walked back on in recent weeks, having also pledged to get rid of the consumer carbon tax.
Unelected bureaucrats impose unlegislated tax hike on Canadians… despite prorogation
— Rebel News (@RebelNewsOnline) January 10, 2025
Taxpayers are ticked off with Trudeau’s government, who quietly increased capital gains outside the parliamentary process.https://t.co/ofM77ztL6E
Freeland, in a ways and means motion last year, would have increased taxation from 50% to 67% on capital gains over $250,000, though no tax bill ever followed.
She once lauded the measure for promoting “tax fairness,” but is now backtracking citing a second Donald Trump presidency.
"We cannot afford economically destructive Liberal taxes that will drive even more business and jobs out of our country," says Pierre Poilievre as he vows Conservatives will scrap the Liberals' capital gains tax. pic.twitter.com/7K8gTTYqOc
— Rebel News (@RebelNewsOnline) January 16, 2025
Conservative Leader Pierre Poilievre also intends to scrap the tax and reimburse those impacted on March 3, should he become prime minister.
Freeland and her cabinet colleagues previously characterized Conservatives as ‘having wealthy friends’ to explain their opposition to the tax hike.
Freeland and her husband Graham Bowley, a New York Times staffer, are millionaires. The couple has held title to seven-figure properties in Toronto, New York and London, England with additional investments in Alberta and Ukraine, according to ethics filings.
Chrystia Freeland attempts to defend her capital gains tax hike and warns high earners of "the wrath of the vast majority of their less privileged compatriots." https://t.co/vD78U4ZuZQ pic.twitter.com/g7Q9rObIqb
— Rebel News (@RebelNewsOnline) June 10, 2024
Opposition parties criticized the enigmatic figure, citing her privileged background and flip-flopping on the policy.
“Her slogan should be: ‘I’m Chrystia and I was wrong about everything,’” Poilievre wrote in a social media post.
If legislated, the tax hike would reportedly add $19 billion to government coffers. A considerable brain drain to jurisdictions with lower taxation to likely follow.
Taxpayers are taking a stand against unlegislated capital gains hikes with Canadian parliament at a standstill, citing unlawful enforcement by the Canada Revenue Agency.
— Rebel News (@RebelNewsOnline) January 22, 2025
MORE: https://t.co/PVEkU05FDN pic.twitter.com/QoHJqEt1Qa
“The capital gains tax hike will punish Canadian doctors, entrepreneurs and people saving for their retirement,” said the Taxpayers Federation. It will “blow a huge hole in Canada’s economy” taxpayers can ill-afford.
A new CD Howe Institute report shows 400,000 jobs will be lost and shrink Canada’s GDP by nearly $90 billion.
The Canada Revenue Agency (CRA) will start collecting interest on unpaid taxes starting March 3, angering taxpayers immensely and prompting the Canadian Taxpayers Federation to launch a legal challenge against the unlegislated tax grab.

Alex Dhaliwal
Calgary Based Journalist
Alex Dhaliwal is a Political Science graduate from the University of Calgary. He has actively written on relevant Canadian issues with several prominent interviews under his belt.

COMMENTS
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Bernhard Jatzeck commented 2025-01-25 00:50:34 -0500I downloaded some 2024 income tax return documents. Because of parliamentary proroguing, the rules regarding reporting capital gains will be the same as they were for the 2023 return.
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Bruce Atchison commented 2025-01-24 21:44:15 -0500People are seeing that Liberals are liars. Twitchy Freeland flip-flops because she’s only interested in power. No wonder people hate politicians.