Taxing corporations in Budget 2024

As we speak, Finance Minister Chrystia Freeland is preparing to table the next federal budget for April 16.

Imagine yourself sat in the House of Commons, and instead of sounding the alarm about the national debt, she unveils a corporate profiteering tax that would reduce inequality and bring billions of dollars into the public coffers.

After years of sky-high inflation and a cost-of-living crisis, we need to make sure that the Liberal government feels the pressure to tackle corporations that have been profiting as the rest of us struggle. Will you add your name and call on Chrystia Freeland and Liberal Cabinet Ministers to pass a corporate profiteering tax in the 2024 federal budget?

As grocery giants post record profits off Canadians and their families struggling to put food on the table – corporations like Loblaws and Walmart have been stringing along politicians. In December, both CEO’s announced that they were refusing to participate in the voluntary grocery code of conduct – a process that the Liberal government has been touting as a solution to high grocery prices for the last two years.

It’s clear something more is needed, and we need to be united in our message: tax them.

Life-saving supports such as CERB understandably increased the public debt. But it’s time to turn the attention to corporations who profited handsomely during the pandemic, and have continued to do so.

And it’s popular. 87% of Canadians support an excessive corporate profit tax paid by businesses whose profits were extraordinarily high during the pandemic.

Politicians need to hear from you. If you believe that corporations raking in excessive profits should be taxed, add your name and tell Finance Minister Chrystia Freeland: pass a corporate profiteering tax in Budget 2024.

In solidarity,
Aidan and Cheryl, for Leadnow

Sources:
Abacus Data Polling, Canadians think their tax system is unfair and support new revenue tools that bring down the deficit and reduce inequality now.
CBC, Trudeau reverses course, threatens grocery giants with tax measures
Global News, Grocery code of conduct launch paused over dissent from Loblaw, Walmart: board
Canadians for Tax Fairness, It’s time to turn windfall oil and gas profits into cost relief for Canadian families
The Globe and Mail, Loblaw and Metro report higher sales, quarterly profit as they face scrutiny over food price inflation