A big Canadian player has quietly picked up his chips and is heading for the exit amid all the tumult over the Trudeau government’s controversial tax proposals.
A business owner has informed John Manley, the head of an organization representing Canada’s largest corporations, that he’s moved billions of dollars outside the country since the Liberals announced their tax changes in mid-July.
The government’s proposals to eliminate several tax incentives have awakened a large contingent of vocal opponents from numerous backgrounds — from the small business community, to farmers, to tax planners, to professionals like doctors and lawyers. Even backbench Liberal MPs have publicly expressed their concerns.
In the background, the Liberals’ proposed tax reforms are also a deep concern for a much-smaller, silent group of Canadians: wealthy business leaders.