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

Just Posted

Learning the intricate ‘ins and outs’ of TaeKwon-do

Popular form of self-defense extends back to ancient times

Local archers off to international competition in Nashville

Deacon Barclay, Katlyne Glasier and Taylor Knudtson landed in the top 24 of NASP Canadian archers recently

Stettler youngster Jake Rock in urgent need of a liver transplant

A GoFundMe page has also been set up to help with medical expenses

Subdivision & Development Appeal Board issues Paradise Shores decision, supports County

SDAB determined the developer’s application was incomplete

Local artist captures vivid images via watercolour

Woody McGibbon continues to explore boundless possibilities via watercolour

10 facts about Father’s Day

Did you know that the special day for dads was first celebrated in 1910?

No business case for Trans Mountain expansion, says former environment minister

Cabinet is expected to announce its decision on the expansion of the Alberta-to-B.C. pipeline by Tuesday

Alberta Mountie found not guilty of dangerous driving causing pedestrian’s death

RCMP Const. Michelle Phillips also found not guilty of dangerous driving causing bodily harm

Three Albertans land ‘monster’ sturgeon in B.C.’s Fraser River

For angler who landed the exceptionally large sturgeon it was an ‘incredible dream come true’

Toronto Raptors and their diverse team celebrated worldwide

Team is made up of players from the U.S., Canada, Cameroon, the Republic of Congo, and Spain

Further murder charge laid after alleged targeted hits in two Alberta cities

Jimmy Truong, who is 27, has been charged with first-degree murder in the shooting of Louie Angelo Mojica

Pot edibles, topicals and extracts to hit shelves no earlier than mid-December: Ottawa

Health Canada wrapped its public consultation on the draft rules for cannabis products in February

We the North: Delirious fans celebrate as Raptors win NBA title

Supporters from all over Canada cheer Toronto’s triumph

Excited, anxious fans prepare for Raptors to play in Game 6 of the NBA Finals

The Raptors currently lead the Warriors 3-2 in the best-of-seven series

Most Read