Following our What's Next for Canada Post-Election 2021 webinar, Christy Clark, John Baird and John Manley are featured in Canadian Lawyer for their insight on the future of Canada's fiscal responsibility in light of the 2021 election results.
John Baird says that, given four of the federal parties are left of centre, increasing revenue through higher corporate taxes and more taxes on areas of capital gains and stock options will likely be on the table.
John Manley adds that many progressives have railed against financial institutions saying that it was financial institutions in Canada who “got us through the Great Recession, and then played a role with government through the current pandemic” by helping those hurt get through financially challenging times.
Christy Clark says she is particularly concerned about the energy sector in Canada if the next government is going to push too far too quickly for increased carbon taxes and regulation.
The panellists also pointed out that minority governments at the federal level will become more common, given demographics and the “first past the post” method of declaring winners of Canada’s 338 ridings.