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In The News Today Carney Governments Budget Survives Tight Vote 11503873

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?

Prime Minister Mark Carney's Liberal government survived a critical confidence vote on Monday night with a final tally of 170-168 votes in favor of passing the federal budget, narrowly avoiding a winter election over the holidays.</span

Prime Minister Mark Carney's Liberal government survived a critical confidence vote on Monday night with a final tally of 170-168 votes in favor of passing the federal budget, narrowly avoiding a winter election over the holidays.

Green Party Leader Elizabeth May provided the crucial opposition vote after Carney committed during question period to meeting Canada's legally binding commitments under the Paris Agreement on climate change targets.</span

Green Party Leader Elizabeth May provided the crucial opposition vote after Carney committed during question period to meeting Canada's legally binding commitments under the Paris Agreement on climate change targets.

Four MPs abstained from the vote including Conservative MPs Shannon Stubbs who was on medical leave and Matt Jeneroux who announced his resignation, plus NDP MPs Lori Idlout and Gord Johns who sought to avoid an unwanted election.</span

Four MPs abstained from the vote including Conservative MPs Shannon Stubbs who was on medical leave and Matt Jeneroux who announced his resignation, plus NDP MPs Lori Idlout and Gord Johns who sought to avoid an unwanted election.

The budget proposes $141 billion in new spending over five years offset by approximately $51-60 billion in savings, resulting in a projected deficit of $78.3 billion for 2025-26, nearly doubling from previous forecasts.</span

The budget proposes $141 billion in new spending over five years offset by approximately $51-60 billion in savings, resulting in a projected deficit of $78.3 billion for 2025-26, nearly doubling from previous forecasts.

Interim NDP Leader Don Davies explained his party's abstentions by stating that Canadians do not want an election right now while facing an existential threat from the Trump administration's trade policies and tariffs.</span

Interim NDP Leader Don Davies explained his party's abstentions by stating that Canadians do not want an election right now while facing an existential threat from the Trump administration's trade policies and tariffs.

Polling data from Abacus Data showed 46 percent of Canadians wanted the budget to pass while only 35 percent opposed it even if rejection risked triggering another election just months after the previous one in April.</span

Polling data from Abacus Data showed 46 percent of Canadians wanted the budget to pass while only 35 percent opposed it even if rejection risked triggering another election just months after the previous one in April.

Carney's Liberals Survive Budget Vote 170-168, Avoid Election

Carney's Liberals surviveSurvive crucialBudget confidenceVote vote170-168, onAvoid budget in win for CarneyElection

The Controversies

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