Liberals to propose corporate stock buyback tax in fall economic statement: sourceOTTAWA — A senior government official says Finance Minister Chrystia Freeland's fall economic statement will propose to tax corporate stock buybacks in a bid to encourage companies to invest in their domestic operations and workers. Thursday's fiscal update is widely expected to include Canada's response to U.S. President Joe Biden's Inflation Reduction Act, which also included a one-per-cent tax on corporate stock buybacks. The fall economic statement is also expected to focus on driving investment to Canada's clean energy industries in response to new American tax incentives. Federal party leaders have used the upcoming fall economic statement as an opportunity to push for their priorities. In a press release about the fall economic statement, the National Council of Unemployed Workers is calling on the federal government to include EI reforms in the update.

Source: CBC News November 03, 2022 00:05 UTC