SoVote

Decentralized Democracy

House Hansard - 159

44th Parl. 1st Sess.
February 13, 2023 11:00AM
Context: House Hansard - 159 - Feb/13/23
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • Feb/13/23 2:45:35 p.m.
  • Watch
Mr. Speaker, our government absolutely believes that, in Canada, everyone should pay their fair share. That is why we introduced a 2% tax on share buybacks. In the United States, the tax it introduced was a 1% tax on share buybacks. We have also introduced a tax on luxury yachts, cars and planes and a 15% COVID recovery dividend tax on banks and insurance companies.
65 words
  • Hear!
  • Rabble!
  • star_border
Context: House Hansard - 159 - Feb/13/23
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • Feb/13/23 3:07:05 p.m.
  • Watch
Mr. Speaker, it is always a pleasure to work with the member for Saanich—Gulf Islands. I am very glad to hear her talking about President Biden's comments on the share buyback tax and his view that he would like to see that tax, which is currently at 1% in the United States, quadrupled. The fact is that in Canada we introduced that tax at 2%, which is double the current U.S. level, because we absolutely believe it is appropriate for our tax system to encourage Canadian companies to invest in workers and to invest in the economy.
101 words
  • Hear!
  • Rabble!
  • star_border