Canadians scared Trudeau’s capital gains tax is causing doctors to leave
A new survey has revealed that a majority of Canadians are worried that the new capital gains tax hike will scare off doctors and further cripple Canada’s healthcare system.

TCS Wire

May 27, 2024

A new survey has revealed that a majority of Canadians are worried that the new capital gains tax hike will scare off doctors and further cripple Canada’s healthcare system.

Canadians scared Trudeau’s capital gains tax is causing doctors to leave

The Abacus Post-2024 Budget Survey, which looked at Canadians’ responses to Trudeau’s new economic agenda, found that Budget 2024 was mostly viewed negatively, with the capital gains tax inclusion rate hike to 66% being a point of contention.

It isn’t as though Canadians are unaware of what changes Trudeau made in the budget, either, as the survey for 3 in 5 Canadians are informed on the matter, an exceptionally high proportion for fiscal policy.

In terms of support, the survey found that 24% broadly think it’s a good idea, while 35% say it’s a bad idea—the remainder aren’t sure.

However, only 20% believe Trudeau should actually pass it, while 29% want him to reverse course, and 20% want exemptions for healthcare providers who run community-based medical clinics, a group that will be severely impacted by the changes upon retirement when they go to sell their practice.

Additionally, in terms of how the change will impact physicians specifically, a majority of Canadians believe it will cause physicians to leave the country, retire early, etc.

As per the survey:

  • 64% believe it will result in longer waiting lists for family physicians
  • 61% believe that will be the case for specialists and referrals
  • 61% believe there will be fewer physicians becoming family physicians
  • 60% believe there will be fewer specialist physicians
  • 54% believe more family physicians will leave their practice to pursue other interests
  • 54% believe there will be fewer retirement options
  • 54% believe that physicians will retire early as a result of the capital gains tax hike

Liberals have a plan to address the concerns of doctors impacted by capital gains hike

In a telling display of contempt and as additional motivation to actually leave, the Liberals have already responded to doctors concerned about the capital gains hike by telling them they’ll just replace doctors who leave with foreigners.

Speaking to the CBC, Liberal MP Richie Valdez said, “We recognize that [doctors might leave due to the negative impact], but one of the things that we will continue to do is encourage foreign credential recognition to help with—we know that coming out of the pandemic, our healthcare has really been hampered, and there’s a really challenge with labour.

“But the investments we’ve made with foreign credentialing—we’ve already made a significant investment in previous budgets, and then this year, we’ve topped that up. And we will continue to invest to ensure we’re encouraging bringing talent from other countries to get their credentials recognized, and that will also encourage them to get more jobs here and fill the desperate labour market needs that are required in our healthcare industry.”

She said this was part of the Liberals plan to make a Canada that is “fairer for every generation”.

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