Madam Speaker, to start, before I expand on it, I will make very clear that as of June 25, 2024, the capital gains inclusion rate increased from one-half to two-thirds on capital gains realized annually above $250,000 by individuals and on capital gains realized by corporations and most types of trusts. We are talking about a quarter of a million dollars annually. It does not surprise me that the Conservative Party does not recognize the value of that and does not expect a bit more from those who have that sort of profit, but it is not appropriate to say it is not fair.
When the Liberals came back in 2015, we put a special tax on the wealthiest 1% in Canada, and the Conservatives opposed that. At the end of the day, we have supported Canada's middle class in a very tangible and real way. I would go back to the time we decreased taxes for Canada's middle class. Again, the Conservatives voted against that. We brought in programs to support Canada's middle class and those aspiring to become a part of it, and we have looked at ways we can support others.
The member makes reference to inflation, but Canada, in comparison to virtually every other industrialized country, has done exceptionally well there. It does not mean that we sit back. We have not done that. We have recognized that we need to support Canadians, even though our economy, in many ways, is doing better than those of other countries around the world. We have done that through things such as the grocery rebate.
Members of the Conservative caucus often reference seniors. We have supported seniors in very tangible ways, whether with the substantial increase to the GIS a number of years ago or with an increase for those 75 and over. In many ways, the government has been there to support Canadians, and we will continue to look for ways to do that.
With a bigger, holistic approach when dealing with the economy, we have now seen interest rates drop in Canada, the first of the G7 countries. Inflation rates are now under control. I suggest the member take a look at the world environment, whether during the economic slowdown or the pandemic. No country was exempt from them. We all had to play a role. The Government of Canada, working with Canadians and other jurisdictions, like the provinces, the territories and indigenous leaders, has been able to minimize the negative impacts of what has been happening around the world. Yes, there are some areas where we need to increase revenue, but this is a fair way of doing it.
The Liberals obviously disagree with the Conservatives, but when we first came out with the announcement, the Conservatives sat on their hands and said nothing. It took them a while to decide on the position they were going to take. As it took them a while to adopt their position, I suggest they go back to the drawing board on it.