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House Hansard - 103

44th Parl. 1st Sess.
September 27, 2022 10:00AM
Context: House Hansard - 103 - Sep/27/22
Ms. Julie Dzerowicz
  • Sep/27/22 1:08:55 p.m.
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Madam Speaker, we absolutely are increasing and permanently raising the corporate income tax by 1.5% on Canada's largest and most profitable banks and insurance companies. We have also introduced a recovery dividend of 15% on excess profits at these institutions during the COVID pandemic. We are always looking for the best ideas and I think we always should have additional considerations as we look to provide more incentives to reach our 2050 targets of net zero.
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Context: House Hansard - 103 - Sep/27/22
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • Sep/27/22 2:51:08 p.m.
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Mr. Speaker, we have been, and we remain, fully committed to ensuring that everyone pays their fair share of tax. We are permanently raising the corporate income tax rate by 1.5% on Canada's largest, most profitable banks and insurance companies, and we have introduced a recovery dividend of 15% on the excess profits these institutions made during COVID‑19. That is action.
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