Bloomberg

Carney Delays Canada Budget Plans To Lower Income Tax By Jul

Metaculus

USMCA Extended at Joint Review?

Pierre Poilievre

Mark Carney

Dominic LeBlanc

Chrystia Freeland

Armon Shokravi


Deepak Shenoy

"We are deferring – from June 25, 2024 to January 1, 2026 – the increase to the capital gains inclusion rate."

"I am announcing today common sense Conservatives will reverse last June’s Liberal tax hike on capital gains—a tax economists agree will kill 400,000 jobs."

"Canada will increase its capital gains taxes by effectively about 30% higher tax."

"We are very committed to the capital gains measures that we put forward in the budget."

Will the Capital Gains Tax in Canada Be Raised?

<span>The government's immediate priority is implementing a promised one-percentage-point reduction in the lowest income tax bracket, from 15% to 14%, scheduled to take effect July 1, 2025, which is expected to cost $27 billion over five years.</span

Financialpost

Investment Executive

The government's immediate priority is implementing a promised one-percentage-point reduction in the lowest income tax bracket, from 15% to 14%, scheduled to take effect July 1, 2025, which is expected to cost $27 billion over five years.

<span>Prime Minister Mark Carney signed an executive order during his first cabinet meeting directing the implementation of the tax cut, which the government claims could save dual-income families up to $840 annually by 2026.</span

Global News

Prime Minister Mark Carney signed an executive order during his first cabinet meeting directing the implementation of the tax cut, which the government claims could save dual-income families up to $840 annually by 2026.

<span>The House of Commons is scheduled to return on May 26, 2025, followed by a throne speech on May 27 that will outline the government's priorities and vision for the country.</span

National Post

The House of Commons is scheduled to return on May 26, 2025, followed by a throne speech on May 27 that will outline the government's priorities and vision for the country.

<span>The government has established new cabinet committees focused on priorities such as strengthening Canada's sovereignty, improving quality of life, and managing Canada-U.S. relations amid ongoing trade tensions.</span

The government has established new cabinet committees focused on priorities such as strengthening Canada's sovereignty, improving quality of life, and managing Canada-U.S. relations amid ongoing trade tensions.

<span>The tax cut legislation will require support from opposition parties to pass through the minority Parliament, with the government expecting cross-party backing for the affordability measure.</span

The tax cut legislation will require support from opposition parties to pass through the minority Parliament, with the government expecting cross-party backing for the affordability measure.

Bloomberg #0

Metaculus #0

<h2></h2>

Finance minister says no 2025 budget, while government focuses on fall update

Canada

Finance

Politics

The government is taking a prudent, step-by-step approach by focusing on immediate affordability measures while waiting for greater economic certainty before presenting comprehensive fiscal plans. The tax cut will provide immediate relief to Canadians, while the fall economic statement will offer a more accurate picture of finances once there's less uncertainty about U.S. trade actions.

<span>The government is taking a prudent, step-by-step approach by focusing on immediate affordability measures while waiting for greater economic certainty before presenting comprehensive fiscal plans. The tax cut will provide immediate relief to Canadians, while the fall economic statement will offer a more accurate picture of finances once there's less uncertainty about U.S. trade actions.</span>

Liberals planning for a fall economic statement but no budget just yet

The Globe and Mail

Finance Minister Champagne suggests Ottawa wont present budget this year

Carney Government Skips Budget, Prioritizes Tax Cut by July

Carney Government Skips Budget, Prioritizes Tax Cut by July

FinanceCarney ministerGovernment saysSkips no 2025 budgetBudget, whilePrioritizes governmentTax focusesCut onby fall updateJuly

The Spin

The Controversies

LeBlanc

Poilievre

Shenoy

Freeland

Articles on this story

Sign Up for Our Free Newsletters
Sign Up for Our Free Newsletters

Carney Government Skips Budget, Prioritizes Tax Cut by July

FinanceCarney ministerGovernment saysSkips no 2025 budgetBudget, whilePrioritizes governmentTax focusesCut onby fall updateJuly

The Spin

The Controversies

LeBlanc

Poilievre

Shenoy

Freeland

Articles on this story

Sign Up for Our Free NewslettersSign Up for Our Free Newsletters

Sign Up for Our Free Newsletters
Sign Up for Our Free Newsletters