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Market Chatter: Canada Bill To Enact GST Holiday Over First Hurdle
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Market Chatter: Canada Bill To Enact GST Holiday Over First Hurdle
Nov 29, 2024 4:48 AM

07:21 AM EST, 11/29/2024 (MT Newswires) -- The governing Liberals' GST holiday bill is one step closer to becoming law after it was passed by a majority of the House of Commons late tonight, The Canadian Press is reporting.

It noted the Liberals and opposition NDP worked together to curtail the usual debate on the legislation, passing it a day after it was first introduced. The main opposition Conservatives and Bloc Quebecois voted against the bill, which will now go to the Senate.

Conservative Leader Pierre Poilievre has called the measure inflationary and a "tax trick."

The two-month tax break covers dozens of items, including children's clothes and toys, video games and consoles, Christmas trees, restaurant and catered meals, wine, beer, candy and snacks. It would be in effect from Dec. 14 until Feb. 15.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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