Trudeau’s tax hikes risk worsening Canada’s struggle for capital: Bloomberg
THE CANADIAN PRESS/Adrian Wyld
Prime Minister Justin Trudeau rises during question period in the House of Commons, in Ottawa, Tuesday, Nov. 21, 2023.
Prime Minister Justin Trudeau’s government is raising taxes on businesses to help fund Canada’s budget, a strategy that sends the wrong signal to firms considering expanding production in the country, Bloomberg’s Erik Hertzberg reports. In its most recent survey of businesses, the Bank of Canada flagged a sharp increase in corporate anxiety about the tax burden, Hertzberg reported, adding business confidence is lower than it was a year ago and planned business investment is weak. The U.S., in contrast, is in the midst of a supply renaissance and a factory building boom, according to the Bloomberg report.
