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

Rossland’s Seven Summits school gets grant to grow global presence

Centre for Learning hopes to triple the number of international students it has

Rural dividend grants awarded in Kootenay West

Kootenay West MLA Katrine Conroy made the grant announcements in Trail on Thursday

Rossland skiier places third at U19 Canadian Ski Cross

Rossland’s Sage Stefani finished out a successful season.

Warfield elementary school celebrating 70 years

Webster Elementary School officially opened April 23, 1949; open house and events planned next week

Trail workshop offers path forward for affordable/supportive housing

Columbia Basin Trust, BC Housing and the CMHC all spoke during the Tuesday morning session

Dashcam captures close call between minivan, taxi at busy Vancouver intersection

To make the footage more nerve-wracking, a pedestrian can be seen standing at the corner

Waste not: Kootenay brewery leftovers feed the local food chain

Spent grains from the Trail Beer Refinery are donated to local farmers and growers, none go to waste

Deck collapses in Langley during celebration, 35 people injured

Emergency responders rushed to the Langley home

B.C. mom wages battle to get back four kids taken from her in Egypt

Sara Lessing of Mission has help from Abbotsford law firm

VIDEO: Fire guts Peachland home

Crews are still on scene pumping water onto the blaze in the Okanagan neighbourhood

$6K raised in one day’s time for family of woman gunned down in Penticton

GoFundMe launched for family of Darlene Knippelberg, to pay for funeral costs and other expenses

B.C. mountain biker sent home from hospital twice, despite broken vertebrae

Released in Maple Ridge to go home with three fractured vertebrae

Seven tips to travel safely this Easter long weekend

An average of three people are killed, and hundreds more injured, each Easter long weekend in B.C.

Seattle’s 4-20 ‘protestival’ enjoys tolerance, some support – and B.C. could do the same

Seattle’s Hempfest a large-scale occasions with vendors, prominent musical acts and thousands of attendees

Most Read