Wealth inequality clearly declined in Canada during the pandemic.
Canada must become more attractive and competitive for business investment and entrepreneurs, and introducing a wealth tax and/or raising the capital gains tax would make a difficult situation worse.
According to the PBO, governments could raise up to $61 billion with a wealth tax on Canadians worth more than $10 million.
In Canada, housing and pension assets comprise the largest sources of household wealth.
At the end of 2019, household net worth in Canada stood at $11,876 billion compared to $622 billion for corporations.