Finance Minister Chrystia Freeland defended the government’s plan to increase the capital gains inclusion rate after meeting with tech leaders on Friday. The meeting, held at the University of Toronto, addressed criticism from venture capitalists, startup executives, and other stakeholders who believe the expansion could deter investment and push entrepreneurs out of Canada.
Freeland explained that the additional revenue from the levy would support other government budget proposals, including billions for research funding, AI programs, and housing initiatives. Despite the criticism, Freeland emphasized the need for shared responsibility, stating that these changes will help fund essential investments.
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