What the latest federal budget means for Calgary [Video]

Ottawa has unveiled its latest federal budget, which includes just over $39 billion of net new spending over the next six years.

Among the new spending:

• $1.5 billion to launch pharmacare;
• $6.1 billion for a new disability benefit; and
• $2.5 billion for a new carbon rebate that would benefit about 600,000 small businesses.

While there were rumours of a potential wealth tax to compensate for new spending, the government instead is increasing the tax rate on capital gains.

Feeling the impact will be 12.6 per cent of corporations.

“We’re concerned about the level of taxation on corporations because it limits our ability to invest in innovation,” said Ruhee Ismail-Teja, Calgary Chamber of Commerce vice-president of policy and external affairs.

“It limits our ability to invest in decarbonization, and it limits our ability to invest in the labour force and continue to hire.”

Also new on Tuesday, a plan to unlock federal lands for homes.

Ottawa will lease property in Currie …