INSTANT VIEW: CANADA UNVEILS FRESH TAXES ON WEALTHY IN FEDERAL BUDGET

(Reuters) - Canada on Tuesday revealed a new tax on wealthy individuals that will bring in billions of dollars over the next five years to help fund housing programs designed to win over a disgruntled voter base.

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COMMENTS

DAVID-ALEXANDRE BRASSARD, CHIEF ECONOMIST,CPA CANADA

"This is not a game-changing budget. It continues Canada on the path of increased spending and taxation, leaving longer-term challenges such as productivity and competitiveness largely unaddressed and kicking the fiscal responsibility can down the road."

JIMMY JEAN, CHIEF ECONOMIST, DESJARDINS GROUP

"We see meaningful risks that fiscal anchors end up being breached ... We believe that lots of the bottom-line improvement being promised hinges on assumptions we consider to be optimistic on nominal GDP and new tax receipts. Similarly, the recently promised spending on housing-related infrastructure is only partly booked."

Aswas

(Reporting by Fergal Smith; Editing by by Denny Thomas)

2024-04-16T21:03:15Z dg43tfdfdgfd