Is a plan to cut the capital gains tax on startup investment a way to boost Canada’s the economy or just a tax cut for the rich?
That’s the question I asked yesterday in a column posted ahead of Startup Grind Toronto’s event with Liberal leadership candidate, and MP, Marc Garneau. Garneau first outlined his plan for boosting the economy in a speech to the Economic Club of Canada and mentioned a capital gains tax exemption and an angel investor tax credit. At yesterday’s Startup Grind event, Garneau’s response to the rich benefitting from these policy changes?
“If the rich are encouraged to invest in Canada’s startups, then it will be worthwhile,” he said on stage. Garneau elaborated the point in a brief video interview.
The hour-long interview featuring many questions from the audience also delved into Garneau’s experiences at Canada’s first astronaut and his lessons learned on leadership. The recorded webcast can be viewed in its entirety on Startup Grind Toronto’s page.