Blog: New analysis shows wealth tax could raise +400B over 10 years
A wealth tax on the richest households in Canada would generate $32 billion in the first year alone, according to a new study by economist Alex Hemingway of the
Budget 2023: where were the tax measures to deal with corporate profits?
This article was originally published in the Hill Times.
Tax credits: A multi-billion-dollar gamble on industry with no guarantee of just transition
Key points
Facts
14 April 2023
Canada is spending $88 billion over ten years to transition to a lower-carbon economy, but it needs to spend much more to save lives and the planet.
Experts project Canada will need to spend $570 billion over ten years on climate investments in order to avoid catastrophic climate change. We can raise that revenue by taxing corporations and their wealthy owners who have profited from climate change.