Bay of Quinte MP Ryan Williams says Conservatives Oppose Trudeau’s Job-Killing Capital Gains Tax

Immediate Release
June 11, 2024

Bay of Quinte MP Ryan Williams says Prime Minister Trudeau is killing jobs with his capital gains tax hike. MP Williams and the Conservative Party believe this current Liberal Government is hiking taxes on homebuilding during a housing shortage. It is raising taxes on doctors during a doctor shortage and hiking taxes again on farmers during a food cost crisis. And it is hiking taxes on small business while Canadians’ paycheques are shrinking. MP Williams says “this is a job-killing Trudeau tax and will drive billions of dollars of machines, technology, business and paycheques out of our country.”

MP Williams says experts agree.

The Canadian Medical Association has stated “In the midst of a doctor shortage – especially community-based family physicians – the capital gains tax impacts those that operate their medical practices as small businesses. These changes could jeopardize ongoing efforts across Canada to recruit and retain a high-quality health workforce. Increasing the capital gains inclusion rate for corporations will create another barrier to retaining and recruiting physicians in a time when our health system and the providers within it are already under constant strain. This not only undermines the well-being of health care professionals, it jeopardizes the stability of our struggling health care system. The risk of already over-stretched physicians leaving the profession or reducing their hours in response to heightened taxation is real.”  

Dan Kelly, President & CEO of the Canadian Federation of Independent Business says ““There are 300,000 businesses that would be directly affected by these changes. If it affects the motivations to go into business or the motivations to grow your business, that affects all of us because we depend on those firms for tax revenue, and job creation.”

MP Williams says “This is essentially a tax on middle class Canadians to pay for the Liberal Governments out of control and reckless spending.” MP Williams says “Conservatives will bring home the country we knew and still love, with a Common Sense Plan to axe the tax, build the homes, fix the budget and stop the crime.”