Mr. Speaker, as Canadians know very well, our government is deeply committed to ensuring that everyone in Canada pays their fair share.
We are permanently raising the corporate income tax by 1.5% on Canada's largest, most profitable banks and insurance companies, and we have introduced a recovery dividend of 15% on the excess profits of these institutions during the COVID pandemic. We also implemented, effective September 1, a 10% luxury tax on private jets and luxury cars worth more than $100,000, and boats and yachts worth more than $250,000.