The Globe and Mail reports in its Saturday edition that Finance Minister Chrystia Freeland knows hiking taxes would be a mistake, but she is still likely to raise levies on the country's largest companies and wealthiest citizens in Tuesday's budget. The Globe's Andrew Willis writes that increasing government revenues is the only way to square Ms. Freeland's repeated pledges to respect the fiscal anchors she set last year and pay for the new programs Prime Minister Justin Trudeau has scattered like candy across the country in recent weeks. In Ottawa and on Bay Street, discussions about tax hikes are focused on two possible scenarios: Economists and policy shops, such as the Business Council of Canada, say the Finance Minister is considering a tax surcharge on companies in sectors the government deems to be excessively profitable. Ms. Freeland is also contemplating a wealth tax on individuals. "Both of those would be on brand for the current government," said Bank of Montreal senior economist Robert Kavcic in a report Friday. Higher corporate taxes on specific sectors -- the grocers, telcos and energy producers that consumers love to hate -- would be consistent with last year's increase in levies on banks and insurers.
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