Poilievre opposes ‘ultrarich’ paying their fair share, says Trudeau | 2024 federal budget

Pierre Poilievre’s Conservatives are opposed to “the ultra-rich” paying their “fair share”, accused Prime Minister Justin Trudeau the day after the unveiling of a budget which will increase the tax on capital gains by a tiny proportion of the population.

The Conservatives have already declared that they will vote against this budget. They will vote against fairness. They will vote against asking the ultra-rich to pay their sharesaid Mr. Trudeau on Wednesday during a speech to the Liberal caucus.

However, according to him, the plan presented by his Minister of Finance, Chrystia Freeland, aims to build responsible manner an economy just for everyoneparticularly young people.

The $535 billion budget, which shows a deficit of nearly $40 billion and no horizon of returning to balance, provides $8.5 billion over five years to accelerate the construction of millions of housing units and $2.6 billion for student aid and scholarship programs.

Ottawa will pay for part of its new spending thanks to better-than-expected economic growth, but also with targeted changes to the capital gains tax that are expected to raise more than $19 billion over the next five years.

These changes are expected to affect 0.13% of Canadians who have an average annual income of $1.4 million.

Right now, a multimillionaire who dumps his investments can pay a lower tax rate on his earnings than a middle-class worker. It is not fair. So we’re going to charge him a little more.

He reiterated that the tax will not apply to primary residences. % of Canadians will not pay a penny more in tax”,”text”:”So, 99.87% of Canadians will not pay a penny more in tax”}}”>Thus, 99.87% of Canadians will not pay a penny more in taxhe mentioned.

Poilievre responds to Trudeau

During question period in the afternoon, the Conservative leader replied to Mr. Trudeau that he’s the ultra-rich.

Poilievre. He vacations with the ultra-rich on their private islands in tax-efficient locations where they can hide their money and avoid paying their fair share here in Canada.”,”text”:”He hid his family fortune in a fund tax-sheltered trust so as not to have to pay the same taxes as everyone else, said Mr. Poilievre. He vacations with the ultra-rich on their private islands in tax-efficient locations where they can hide their money and avoid paying their fair share here in Canada.”}}”>He hid his family fortune in a tax-sheltered trust fund so he wouldn’t have to pay the same taxes as everyone else, Poilievre said. He vacations with the ultra-rich on their private islands in tax-efficient locations where they can hide their money and avoid paying their fair share here in Canada.

And according to him, those who will pay for billion$ new inflationary spending”,”text”:”this orgy of $50 billion of new inflationary spending”}}”>this orgy of $50 billion in new inflationary spending are not billionaires, but YOUordinary citizens who struggle to make ends meet due to high interest rates and taxes imposed by the government.

In a response, Mr. Trudeau estimated that while the Conservatives prefer cuts and austerityhis government chooses toinvest in young people, seniors and the jobs of the future because that’s how we build a stronger economy.

The Bloc speaks of “interference”

Like the Conservative Party of Canada, the Bloc Québécois confirmed that it would not support the budget. Its leader, Yves-François Blanchet, is against the numerous interferences in provincial jurisdictions.

Daycare services, dental insurance, drug insurance, municipal infrastructure and housing are not the responsibility of Ottawa, he said.

Mr. Blanchet told journalists that the budget is ultimately onlyan electoral operation by a government in panic Who instrumentalizes the Canadian Constitution.

The New Democrats, for their part, refuse to reveal whether they will vote in favor of the budget, arguing that they still have concerns about certain aspects despite the gains wrested from the government.

The budget notably commits to funding the first phase of a national drug insurance plan and promises federal standards for long-term care – two commitments that the Liberals had made to the New Democratic Party.

Young people are getting ripped off at the grocery store and they know it. They see Loblaw and Metro making record profits. And yesterday’s Liberal budget does nothing to fix that. […] Why is the Prime Minister still taking the side of the CEOs rather than the young people? asked NDP Leader Jagmeet Singh in the House.

Once very popular among young people, the Liberals have seen support among this segment of voters dwindle in favor of the Conservatives, largely because young people feel that the economic dice are stacked against them.