441-02586 (Taxation)

Whereas:

Increasing the capital gains inclusion rate to 66.6% will put Canada and Canadian business at a disadvantage;

The Canadian Chamber of Commerce estimates that 1 in 5 Canadian companies will be directly impacted by this change over the next decade;

Former Bank of Canada David Dodge stated that increasing the inclusion rate would make Canada a "less attractive" place to invest;

The Bank of Canada has called Canada's business productivity problem "an emergency" and is pleading for the government to incentivise business development;

A rise in capital gains taxes would strain healthcare resources, limit access to affordable housing options, exacerbate financial challenges for farmers, and compromise retirement savings for Canadians; and

Canadian business leaders agree that increasing the inclusion rate would make Canada less competitive and make it more difficult for Canadians to find jobs, including skilled professionals.

Therefore, we, the undersigned citizens and residents of Canada, call upon the Minister of Finance to scrap her plans to increase the capital gains inclusion rate to 66.6% so that Canadian businesses are not put at an unfair disadvantage.