Trudeau Aims to Raise Big Banks Taxes to Pay For Pandemic Recovery
Source: Staff The Canadian Press, globalnews.ca, August 26, 2021
Liberals say this would generate a minimum of $2.5 billion per year over the next four years.
The federal Liberals are pledging to make Canada’s profitable financial sector contribute billions of dollars annually to help people bounce back from the hard times of the COVID-19 pandemic.
During an election campaign stop Wednesday in Surrey, B.C., Liberal Leader Justin Trudeau promised to raise the corporate income tax rate paid by Canada’s largest banks and insurance companies by three per cent on all earnings over $1 billion.
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