Mr. Speaker, as the finance minister says, the economy remains fragile. One of the best ways to encourage private sector investment is to substantially reduce capital gains taxes. Many economists claim that it will not hurt revenues because of the new business start-ups, the innovation jobs and the economic activity it will create.
Fifty-five per cent of those reporting capital gains have incomes under $50,000 a year. While the tax-free savings account is a good start, it is not enough.
When will the government substantially reduce capital gains rates to boost the Canadian economy?