Madam Speaker, today, it is possible for a carpenter or a nurse to pay tax at a higher marginal rate than a multi-millionaire, which is not fair. Our government is increasing the inclusion rate for capital gains over $250,000 for individuals with the exemptions I mentioned to make Canada's tax system fairer. In the process, we will also generate new revenue that will help make life cost less for millions of Canadians, particularly millennials and generation Z. It will help fund our efforts to turbocharge the building of four million more homes. It will support investments in growth and productivity that will pay dividends for years to come.
In the House of Commons on October 3rd, 2024. See this statement in context.