Ottawa\u0027s tax plan is expected to increase federal revenues by $2.1 billion over five years. Read more.
At a news conference Thursday, Freeland said she believes the share buyback tax is better than a “windfall” tax on energy companies, such as the ones imposed by the United Kingdom and European Union. Canada itself has imposed specific levies on financial institutions including banks and insurers, noting that government initiatives helped them remain were profitable throughout the COVID-19 pandemic.
“What that tax does is it create an incentive to do precisely what we want to see big Canadian companies doing… taking their profits and investing them in the productive capacity of Canada,” she said.Article content
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