2025.05 A MODERATE WEALTH TAX ON CANADA’S WEALTHIEST INDIVIDUALS
Whereas #1 extreme wealth inequality in Canada has reached unprecedented levels, with the top 1% of individuals controlling 24–29% of the nation’s wealth and the richest 87 families holding as much as the bottom 12 million Canadians, resulting in a concentration of wealth that undermines social cohesion, economic mobility, and democratic stability, while exacerbating disparities in healthcare, housing, and infrastructure access; and
Whereas #2 Canada faces urgent fiscal pressures from geopolitical crises, including global tariffs and supply-chain disruptions estimated at $145 billion over the next decade, requiring rapid investment in public infrastructure, climate resilience, affordable housing, and healthcare; and
Whereas #3 public opinion reflects overwhelming support (88–90% of Canadians) for taxing extreme wealth to fund essential services and reduce inequality which fuels social unrest and threatens national unity; and
Whereas #4 existing tax systems in Canada have become increasingly regressive, with preferential treatment for capital gains and inherited wealth relative to labor income, shifting tax burdens onto working Canadians and undermining fairness in the tax code, and current policies allow wealthy individuals to defer taxes indefinitely by holding assets without realizing gains, creating a “lock-in” effect that reduces market efficiency and liquidity; and
Whereas #5 leading international institutions such as the World Bank and IMF have endorsed wealth taxes as effective tools to combat inequality, diversify government revenue, and rebuild public trust in governance; therefore, be it
Resolved #1 that the National Council of Women adopt as policy that there be a moderate wealth tax on wealthy individuals to advance fairness in the face of extreme wealth inequality, strengthen public investment and enhance social cohesion; and be it further
Resolved #2 that the National Council of Women of Canada urge the Government of Canada to implement a moderate federal wealth tax on individuals with net wealth exceeding $10 million, with coordination among ministries and production of an annual report.