Generally speaking, the more something is subject to taxation, the less of it we have. This is the case when it comes to increasing the capital gains inclusion rate. We haven't done a specific analysis of the impact it would have on investment and productivity. However, as I mentioned, when something is subject to taxation, people tend to provide a little less of it, so presumably this measure would have a negative impact on investment.
However, there are measures that have the opposite effect. One example is the Canadian entrepreneur incentive, through which the portion of capital gains that will be exempt will increase by $200,000 a year until 2035, I believe.
The proposed measure therefore contains a number of things. It could be felt that some elements will reduce investment incentives, but that others will encourage investments in certain categories, particularly as regards the incentive for Canadian entrepreneurs. That said, there are eligibility criteria. For eligible sectors, it will increase investment incentives in certain sectors and in a certain income bracket.