IN THE HOUSE | Question to the Minister of Finance on a new wealth tax

Published: June 17, 2019
Categorised in: In the House

42nd Parliament, 1st Session
Context : Supplementary Question

Mr. Peter Julian (New Westminster—Burnaby, NDP): Mr. Speaker, it is the folks right behind the minister who gained the most from the Liberal tax cut, because people would have to earn an MP’s salary in order to get the maximum benefit.

If we want to tackle inequalities in this country, we need to take bold action. We need to make the richest of the 1% of Canadians pay a 1% tax on their wealth above $20 million. That would mean we could invest in solutions that Canadians need, like pharmacare, dental care and an affordable place to call home.

When will the Liberals stop siding with the ultra-rich of our country and put everyday Canadians first for a change?

Hon. Bill Morneau (Minister of Finance, Lib.): Mr. Speaker, the member opposite might not have been paying attention to what we really did.
It was the $45,000 to $90,000 tax bracket that we reduced by 7%. We also put in place the Canada child benefit, which was means tested, which means significant benefits went to families at lower and middle income. It was means tested after $150,000 of family income.
At the same time, though, we raised taxes on the top 1%. These measures together have led us to be in a very positive economic situation, with the lowest rate of unemployment in history in our country, a positive situation. We are going to keep working in the future for the middle class.

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