Excess Profits Tax

In 1919 an Excess Profits Tax accounted for a third of the revenue raised by Britain and raised almost as much as personal income taxes. Britain was in debt after WW1 and the EPD helped pay that debt. Today, many businesses and many more people have lost income but some companies such as online retailing and fast food delivery have been granted outsized profits. Post Covid recovery will require more revenue but taxes have to be fair. Will profit makers pay their share?


We have had fifty years of tax cuts for the rich but study after study including one done by the London School of Economics have shown that “trickle down economics” is a myth. “Per capita gross domestic product and unemployment rates were nearly identical after five years in countries that slashed taxes on the rich and in those that didn't, the study found.” Canada is in for a new budget in a few weeks. Add your voice to the campaign for tax fairness.

To make our tax system fairer and ensure that the wealthiest individuals are paying their fair share, the NDP will increase the capital gains inclusion rate to 75 percent. A New Democrat government will also boost the top marginal tax rate and ask the very richest multi-millionaires to pay a bit more towards our shared services with a new one percent wealth tax on wealth over $20 million.

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