The Liberals’ upcoming legislative agenda will prioritize passing the latest budget, delivering the fall economic statement, and moving through several progressive bills, according to a number of political pundits. The Conservatives, meanwhile, are likely to continue efforts to eliminate the carbon tax and focus on other “meat-and-potatoes” economic issues, they say.
“It’s pretty clear coming out of the budget that the [Liberals’] legislative priorities will be to deliver on a progressive agenda that connects, especially with young people,” said Nik Nanos, chief data scientist at Nanos Research, in an interview.
“For a prime minister who in 2015 was really catapulted into majority territory with young people, it looks like this government wants to recapture those voters.”
The $535 billion budget for fiscal year 2024–25 also proposes to increase the
capital gains inclusion rate, to collect an extra $19.4 billion over five years starting this year, intended to impact just 0.13 percent of Canadians.
Under the proposal, individuals would have to pay tax on two-thirds of their annual capital gains above $250,000, instead of the current 50 percent. They would still pay tax on just 50 percent of gains up to that threshold. For corporations and trusts, the two-thirds inclusion rate would apply to their total annual capital gains, up from the current 50 percent, with no $250,000 threshold.
While Mr. Nanos said this new tax was meant to raise revenues to assist Canadians struggling with affordability, it has caused a debate about whether the measure will hurt businesses, doctors, and investment in Canada.
Pharmacare, Clean Energy Legislation
Greg Loerts, a consultant at Bluesky Strategy Group, said the Liberals will be focused on passing
Bill C-59, which implements certain provisions from the fall economic statement tabled in November 2023.
“They released a budget without finishing the implementation of the previous one, so there’s a lot of urgency on that,” he told The Epoch Times.
Mr. Loerts, formerly a staffer on Parliament Hill, said Bill C-59 and the current budget would take up the majority of the party’s resources. He added the Liberals would likely use the
time allocation rule to negotiate with other parties or hold midnight sittings if the bills were being stalled.
Mr. Loerts said the Liberals will also emphasize passing
Bill C-64, or the Pharmacare Act, given that it’s a “pillar of the supply and confidence agreement” between the Liberals and New Democrats. The two parties have been in that
agreement since March 2022. The deal keeps Prime Minister Justin Trudeau’s government in power until Parliament rises in June 2025, in exchange for delivering on NDP priorities like pharmacare and dental care.
Additionally, Mr. Loerts predicts the government will emphasize passing
Bill C-49, which focuses on offshore wind energy production in Atlantic Canada, and Bill C-50, the
Canadian Sustainable Jobs Act, which focuses on transitioning workers away from the fossil fuel industry toward jobs more compatible with a “
net-zero emissions economy.” He believes passing the two bills are “relatively major priorities” for Energy and Natural Resources Minister Jonathan Wilkinson.
Peter Graefe, a political science professor at McMaster University, agrees the Liberals will emphasize passing Bill C-59, the latest budget, and other programs related to cost-of-living issues like housing.
Conservative and NDP Priorities
Mr. Nanos said the Conservative Party’s legislative agenda will revolve around “meat-and-potatoes” issues like the economy, taxes, jobs, and government spending. He suggests that, given the
latest Nanos poll showing the Conservatives have a 19-point lead over the Liberals following tabling of the budget, the Tories will “stay clear” of controversial social issues like gender identity and immigration.
As for the NDP, Mr. Nanos said leader Jagmeet Singh is trying not to look like a “Liberal cheerleader,” which could be why he has not indicated whether he will vote in favour of the budget. In recent days, Mr. Singh has said his party is still
undecided about the budget, as disability benefits for Canadians are too low.
The NDP is expected to concentrate efforts on passing
Bill C-50 and the pharmacare bill, the latter of which the New Democrats played a role in drafting.
“I think also you’re going to see from the NDP a lot of focus on taking credit for social programs that have been introduced under the Liberals,” Mr. Loerts said, pointing to a
news release by the party following tabling of Budget 2024. The release highlighted protections for renters, more accessibility to non-profit child care, and doubling of tax credits for volunteer firefighters and search and rescue volunteers.
The Conservatives will likely continue introducing motions to get rid of the federal carbon tax. Conservative Leader Pierre Poilievre has made “axe the tax” a flagship political issue, introducing several unsuccessful motions in the House of Commons on the subject.
“In significant parts of this country, particularly in the western provinces, it’s a blue-versus-orange fight, not a blue-versus-red fight,” Mr. Graefe said. “In those spaces, [the NDP] will make the claim that these programs were delivered for working Canadians. It’s probably pretty crucial to their chances of electoral success.”
