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As the campaign for the federal elections progresses into its second week, Conservative Leader Pierre Poilievre has introduced a new economic policy aimed at promoting investment and reducing taxes for Canadian entrepreneurs. His proposal, known as the Canada First Reinvestment Tax Cut, emphasizes the importance of ensuring that investment proceeds are reinvested within Canada rather than exported to the United States.
During an event at a plastics manufacturing site in North York, Ontario, Poilievre explained that this tax incentive is intended to motivate Canadian investors to keep their capital gains within the country by delaying tax obligations for those who reinvest their profits domestically.
In contrast, NDP Leader Jagmeet Singh criticized the Conservative Party’s cohesion at a campaign stop in Port Moody, British Columbia. He suggested that instead of focusing on the interests of Canadians, the Conservatives were preoccupied with internal conflicts regarding their strategy for handling relations with the United States.
“Instead of fighting for Canadians, they are fighting among themselves,” Singh remarked, questioning the effectiveness of their approach during a critical time.
Despite the critique from Singh, Poilievre stressed that the reinvestment tax cut would strengthen Canada’s economic standing against U.S. tariffs. He argued that the proposed policy could attract billions of dollars in investment, thus enhancing the country’s economic resilience.
Highlighting the stark investment disparity, Poilievre noted that in 2023, $460 billion more was invested in the U.S. than was returned to Canada. He asserted that the proposed tax cuts would facilitate increased investments in pipelines, mines, factories, and export terminals, enabling Canada to better support its economy and become more self-sufficient.
Polling data released by Ipsos for Global News indicates that Liberal Leader Mark Carney, who had no public engagements planned for March 30, has garnered significant support from the electorate, with 44 percent of Canadians identifying him as their preferred choice for prime minister. In comparison, 33 percent favored Poilievre, while Singh received support from eight percent of respondents. The federal election is set to take place on April 28.
– with files from The Canadian Press
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globalnews.ca