Winnipeg Free Press By: Christopher Reynolds, The Canadian Press Posted:
Last Modified: 12:31 PM CDT Tuesday, Apr. 27, 2021 Save to Read Later
OTTAWA - The parliamentary budget officer says a hypothetical tax on big corporations excess profits would generate $7.9 billion for the federal government.
Parliamentary Budget Officer Yves Giroux waits to appear before the Commons Finance committee on Parliament Hill in Ottawa, Tuesday, March 10, 2020. THE CANADIAN PRESS/Adrian Wyld
OTTAWA - The parliamentary budget officer says a hypothetical tax on big corporations excess profits would generate $7.9 billion for the federal government.
The estimate Tuesday by budget officer Yves Giroux, in response to a request from the NDP, was calculated by looking at companies whose profits exceeded their 2020 expectations.
iPolitics By Kady O Malley. Published on Apr 25, 2021 4:00pm Finance Minister Chrystia Freeland, pictured in the House of Commons in November 2020, will see her inaugural budget put to a vote on Monday. (CPAC)
It may not be a cliffhanger, but it will still mark a milestone for the minority Liberal government: Barring a sudden twist in the cross-aisle plot,
Finance Minister Chrystia Freeland’s inaugural budget is expected to sail through the last of three votes required to secure the official preliminary approval of the House on Monday evening. This will bring to a close the latest round of confidence checks with her party still in power, at least for the moment.
Author of the article: Lorrie Goldstein
Publishing date: Apr 14, 2021 • 4 hours ago • 3 minute read • Deputy Prime Minister and Minister of Finance Chrystia Freeland looks on as she participates in a meetings with Prime Minister Justin Trudeau and virtually with United States President Joe Biden on Parliament Hill in Ottawa, Tuesday Feb. 23, 2021. Photo by Adrian Wyld /THE CANADIAN PRESS
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With Canada’s first federal budget in 25 months to be delivered Monday, the crisis facing Canadian taxpayers is that the wrong Liberals are in charge.
We need the Jean Chretien, Paul Martin Liberals of 1995.
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OTTAWA Industry representatives are urging Finance Minister Chrystia Freeland to back away from plans to spend $100 billion in additional stimulus, saying it would needlessly swell public debt levels and could risk overheating the economy.
In her fiscal update last November, Freeland said the $100 billion in new spending would be pegged to the jobs market, which now serves as a “fiscal guardrail” to guide future spending plans. But many economists and business executives are warning that faster-than-expected economic growth and a vastly improved labour market have deemed those plans obsolete, and could instead harm the longer-term growth prospects of the country.
What to watch for in a long-awaited pandemic federal budget Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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Sean Kilpatrick/The Canadian Press
After more than a year of emergency government spending at levels not seen since the Second World War, the Liberal government is ready to unveil its postpandemic recovery plan.
When Finance Minister Chrystia Freeland rises in a near-empty House of Commons on Monday, she will seek to balance promises of more spending without scaring off voters or international investors.