Conservative leader Pierre Poilievre proposes eliminating the capital gains tax on profits reinvested in Canada to boost the economy amid tensions from Donald Trump’s tariff threats. He critiques the Liberal government’s response to Trump’s influence, arguing for stronger economic independence. Meanwhile, Bloc Québécois leader Yves-François Blanchet and NDP leader Jagmeet Singh unveil their respective criticisms and proposals, highlighting the shifting dynamics of the election campaign influenced by external factors like Trump’s actions.
Pierre Poilievre’s Bold Economic Proposal
Amid the chaos stemming from Donald Trump’s tariff threats, Conservative leader Pierre Poilievre is making a significant pledge to invigorate the Canadian economy. His plan includes the elimination of capital gains tax on profits that are reinvested within Canada. This announcement comes as the leader of the Bloc Québécois has criticized former Bank of Canada Governor Mark Carney for his absence in public discussions, labeling him as a “mascot.”
Recent reports indicate that Trump’s influence is causing friction within the Conservative campaign. Some strategists are concerned that Poilievre is not adequately confronting Trump’s divisive tactics and is instead relying heavily on a negative campaign focused on the current Liberal government’s track record.
In an effort to shift the narrative, Poilievre revealed a new tax reduction initiative aimed at promoting reinvestment in the Canadian economy. According to the Conservative Party, this move is a strategic response to counteract the fallout from Trump’s policies.
“The existing capital gains tax deters investments in older assets because selling them incurs substantial taxes,” Poilievre stated during a visit to a plastic manufacturing facility in North York, Ontario. However, he chose not to address questions regarding the internal strife within the party.
Under his proposed tax policy, both individuals and businesses would be able to reinvest the proceeds from asset sales without incurring capital gains tax, provided that the funds are directed back into Canadian enterprises. Poilievre envisions this as a way to bring foreign investments back home rather than letting them flow out of the country. He assured supporters that if this policy proves effective, it would become a permanent fixture.
Critique of Liberal Policies
Poilievre also took the opportunity to critique the Liberal government’s handling of Trump’s influence, arguing that the Conservatives must not show weakness in the face of external pressures. He accused the Liberals of having weakened the Canadian economy over the past decade, suggesting that Trump seeks to see Carney elected as a result.
“We cannot afford to support such weakness against Donald Trump,” he declared, emphasizing the need to diminish Canada’s economic reliance on the U.S. He expressed concerns that Carney’s leadership could lead to an exodus of investments, leaving Canada in a disadvantageous position compared to its southern neighbor.
He pointed to the investments made by Brookfield, a company previously led by the outgoing Prime Minister, as an example of how funds are being diverted away from Canada. “He sends our money elsewhere and profits from it: he is rewarded for weakening our economy […] We are more dependent than ever on Americans,” Poilievre asserted.
Criticism of Mark Carney and NDP Proposals
Meanwhile, Mark Carney, the leader of the Liberal Party, was in Ontario participating in activities with activists but remained absent from media interactions. Bloc Québécois leader Yves-François Blanchet criticized Carney’s lack of public engagement, suggesting he prefers to remain in controlled environments. Blanchet took this opportunity to call for an increase in old-age pensions for Canadians aged 65 to 75, reiterating that many Quebecers feel unfamiliar with Carney.
He acknowledged that Trump’s election has significantly altered the dynamics of the Canadian election campaign, asserting that the Liberals have been the most adaptable amidst these changes. Blanchet conceded that the question of Quebec independence is currently at a disadvantage due to the focus on Trump’s influence.
In a separate announcement, NDP leader Jagmeet Singh unveiled plans to introduce public low-interest mortgages aimed at first-time homebuyers, positioning his party as the advocate for families facing housing challenges. Singh criticized both Carney and Poilievre for aligning with banks and market speculators, claiming that the New Democrats are devoted to supporting those striving to purchase their first home.