Thank you, Mr. Chair.
Members of the committee, thank you for the invitation to appear before you today. We are pleased to discuss our analysis related to your study of the changes to the capital gains inclusion rate and corresponding measures announced in budget 2024.
With me today I have Mr. Govindadeva Bernier, director of budgetary analysis.
Consistent with the Parliamentary Budget Officer's mandate to provide independent, non-partisan analysis to Parliament, my office released our cost estimate on August 1.
As you are aware, budget 2024 introduced an increase in the capital gains inclusion rate from one-half to two-thirds for corporations and trusts, and from—