How will Liberals pay for billions in promised spending, loans? Freeland won't say if wealth taxes coming
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While selectively rolling out elements targeting millennials and Generation Z, Deputy Prime Minister and Finance Minister Chrystia Freeland won't say whether next week's federal budget could include higher taxes for corporate Canada or major grocers.
While selectively rolling out elements targeting millennials and Generation Z, Deputy Prime Minister and Finance Minister Chrystia Freeland won't say whether next week's federal budget could include higher taxes for corporate Canada or major grocers.
On Tuesday, while touting the latest $500-million pre-budget pledge, Freeland faced questions from reporters about how the Liberals plan to finance what has now accumulated to more than $35 billion in new money and loans promised to be included the 2024 federal budget.
Prime Minister Justin Trudeau has ruled out raising taxes on the middle class, pointing back to the Liberals' 2015 middle class tax cut.
This commitment came after Families Minister Jenna Sudds backtracked from saying there would be "no new taxes" introduced to stating Canadians would have to "see the budget" when pressed if that meant the Liberals had ruled out a wealth or excess profit tax.
When Freeland was asked Tuesday whether there are going to be new or higher taxes for wealthier Canadians or corporate Canada, she did not directly answer.
"Here's what I'll say about the fiscal picture in the budget. We recognize that there is an urgent need today to invest in Canada, and Canadians, and we recognize in particular that we're at really a pivotal moment for young Canadians… And that's something that we have to do something about. That requires investments. We are making them," Freeland said.
"We are absolutely committed to making those investments in a fiscally responsible framework. And we're going to do that."
