Tech CEOs unite in open letter against proposed capital gains tax increase

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Tech CEOs sign open letter to feds opposing capital gains tax hike



“Innovation Under Threat: Tech Leaders Rally Against Capital Gains Tax Hike”

**The Rising Opposition**

A wave of discontent is sweeping through the tech industry as over 1000 Canadian CEOs and tech leaders unite against the Liberal government’s proposed capital gains tax hike. What started with a modest 150 signatures has now grown exponentially in just a matter of days, highlighting the urgency felt within the tech community.

**A Call for Reconsideration**

The open letter directed at Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland emphasizes the detrimental impact of increasing capital gains taxes on investment and entrepreneurship. The signatories argue that such measures could hinder growth and dampen innovation in an already challenging economic climate.

**A Plea for Prosperity**

The Council of Canadian Innovators, spearheading the movement, stresses that taxing investment is not a viable path to prosperity. The looming threat of stifled growth, diminishing innovation, and economic instability looms large, prompting tech leaders to make a collective stand for the future of Canada’s innovation economy.

**The Ripple Effect**

The proposed tax hike, set to generate $19.4 billion over the next five years, has sparked concerns about a productivity emergency and the potential for further inflation. With mounting pressure on the government to reconsider its stance, the tech industry is pleading for a more conducive environment for innovation and entrepreneurship.

**A Plea for Prosperity**

As Shopify president Harley Finkelstein asserts his concerns over the tax increase, echoing the sentiment that Canada must prioritize creating an environment that nurtures and supports entrepreneurs. The narrative of penalizing innovation and risk-taking through taxation has struck a chord within the tech community, underscoring the need for a more favorable economic landscape.

**A Vision for the Future**

With each new signature on the open letter, the message grows louder and clearer: the tech industry is united in its plea for a tax system that fosters growth, innovation, and prosperity. As the number of signatories continues to rise, the call for the government to reconsider its approach becomes more urgent, emphasizing the need for collaboration between policymakers and industry leaders to shape a brighter future for Canada’s innovation economy.

**Conclusion**

In the face of mounting opposition from tech leaders and CEOs, the Liberal government is confronted with a critical choice – to heed the voices of innovation and entrepreneurship or risk stifling growth and stifling Canada’s economic potential. The outcome of this battle between taxation and innovation will not only shape the trajectory of the tech industry but also reflect Canada’s commitment to fostering a thriving innovation ecosystem for generations to come.



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