Canada election: Trudeau promises to raise corporate income tax rate on big banks

Liberal Leader Justin Trudeau promised on Wednesday to raise the corporate income tax rate by three percentage rates on earnings over $1 billion for Canada’s big banks and insurance companies, adding that the government would ask them to “do a little bit more” to help Canada on the path to recovery. He said Canada’s banks have “continued to be incredibly successful, including through a pandemic where everyone else had to tighten their belts.”

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