First reactions is that this is a really weird budget. Outside of a government promise and programs to build a mountain of housing, which seems very challenging, there isn't much of substance. Carbon rebate for small business ok, fuel surcharge rebate and the big one about capital gains exemptions on "wealthy" Canadians going to 2/3rds of the gain.
Liberals really missed the boat in my opinion on actually being really innovative and on policy perspective. There is a ton of low hanging fruit that can be had with things like junk fee's, bad corporate practices from big business, building more infrastructure to make supply chains more resilient, help with inflation.
Even the capital gains change is going to hit hard on a LOT of people, a lot of really normal, middle class people and their families. Everything from a random 40 something couple, working decent jobs in Toronto making $125k each, selling some stocks, a 2nd property and more.
Lot's of elderly people who pass away and their estates need to be wrapped up will pay a LOT more in taxes on investments, property and more with this. Some could argue that older people are rich and the young generation is suffering, but those assets are then passed down. It's regular Canadians who are getting a smaller inheritance as a result of these tax changes and that usually doesn't sit too well with too many people.
Overall, I think this is more of a strange budget as opposed to one that I was discussing the other day, about it being "the worst" in decades.
The headline on the TV at the moment is talking about unleashing federal lands to urgently build 800 homes, but Canada is bringing in something along the lines of approx 1200 people a day as new immigrants. Nothing wrong with that, but it doesn't jive with reality?
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