The Financial Post reports in its Friday edition that the Liberal government's plan to increase capital gains tax for corporations and wealthier individuals is coming under fire from leaders in the tech industry. The Post's Barbara Shecter writes that critics say the policy rolled out in Tuesday's budget creates a disincentive for innovative companies to put down roots in Canada and will hurt the country's already lagging productivity. Finance Minister Chrystia Freeland laid out plans for the inclusion rate on all annual capital gains for corporations and trusts -- as well as capital gains above $250,000 for individuals -- to rise to two-thirds from one-half through amendments to the Income Tax Act, effective June 25, 2024. Venture capital player John Ruffolo said the tax changes could result in scores of innovators leaving Canada. TD Bank economists said that the feds partially offset negative impacts of the capital gains changes by raising lifetime capital gains exemptions as well as introducing a progressive, graduated rate. They agreed, however, that "a higher tax on divestment could very well be the straw that breaks the camel's back and pushes that new firm elsewhere in a globally competitive environment."