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The Economy

During question period on the economy, a Liberal member asked how the government’s spring economic measures would help workers, pointing to cheaper education and training, support for workers who relocate for jobs, and tax measures for employee-owned businesses. A parliamentary secretary replied that making the employee ownership trust tax exemption permanent would let more workers own shares in the businesses they help build and give employers certainty when planning succession. The exchange was between members of the government party, with no opposition statements included in the record.Written by AI from the debate. Updated .

Official text

2 statements

Dominique O'Rourke

Liberal

Linked statement

“Our budget helps workers by making school cheaper, helping them move for work, and giving tax breaks to employee-owned businesses. I want the parliamentary secretary to explain how this helps the economy.”
Official Hansard

Madam Speaker, economic growth is truly transformational only when everyone has the chance to participate in and benefit from it. The spring economic update will empower workers through the historic team Canada strong program, Canada’s largest-ever investment in workers, by making education more affordable and by advancing the labour mobility deduction. Our government has also made permanent the employee ownership trust tax exemption. The former MP for Guelph, Lloyd Longfield, and I are huge advocates. Can the Parliamentary Secretary to the Minister of Finance please explain how this strengthens the economy for all?

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Ryan Turnbull

Liberal
“We should make this tax break permanent. It lets workers own parts of their companies and share in the profits.”
Official Hansard

Madam Speaker, I want to thank the member for her advocacy. Making the employee ownership trust tax exemption permanent will help more workers share in the success of the businesses they help build. This change allows employers long-term certainty when succession planning, and it allows employees the opportunity to access wealth-building opportunities through collective ownership. We will continue to build a stronger economy and protect our sovereignty. Making this tax exemption permanent will allow more workers to directly participate in the strength and prosperity that we are building across Canada.

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