Shopify President Attacks Canada's Capital-Gains Tax Shift -- Market Talk

Dow Jones04-18

1433 ET - For the second time this week, a senior executive at Canada technology company Shopify issues a warning about the Liberal government's economic policy. Company president Harley Finkelstein, in a post on the social-media platform X, says the pending increase in Canada's capital-gains tax threatens to make the country unwelcoming for entrepreneurship. "Innovators and entrepreneurs will suffer and their success will be penalized -- this is not a wealth tax, it's a tax on innovation and risk taking," Finkelstein says on X. He adds Canada's political leaders are "failing" the country at a time when they need investment from business to reverse a productivity malaise. Shopify employs over 8,000 workers. Earlier this week, Shopify CEO Tobi Lutke warned Canada leaned too heavily on the public sector to fuel growth. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

April 17, 2024 14:33 ET (18:33 GMT)

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