Business
Federal tax policy in 2025 will not be kind to Canadians

From the Fraser Institute
By Matthew Lau
Federal tax policy was not kind to Canadians in 2024, and that shouldn’t be a surprise. It wasn’t kind to Canadians in 2023, 2022 or any year since 2016 when the Trudeau government established a new income tax bracket of 33 per cent, pushing the combined federal and provincial top tax rate over 50 per cent in many provinces.
To recap 2024 tax policy changes, the federal government began the year with its sixth consecutive Canada Pension Plan tax hike. In 2018, before the government’s CPP “enhancements” (to use the government’s phrase), for a worker earning $85,000, the combined employer and employee CPP tax was $5,188. In 2024 the same worker’s tax bill was $8,111—or about 56 per cent higher including the government’s new “CPP2” tax.
Unfortunately, things will only get worse for Canadians in 2025. The CPP tax bill for the Canadian earning $85,000 will rise to $8,860 in 2025, bringing the total nominal tax increase to 71 per cent through the government’s seven annual CPP “enhancements.”
In addition to making the CPP tax more expensive yearly, the federal government also has been increasing the carbon tax each year. In April 2024, the Trudeau government increased the carbon tax to $80 per tonne from $65 per tonne, and like the CPP tax, the carbon tax will become more expensive yet again in 2025, rising another $15 per tonne to $95.
Another big tax change in 2024 was the capital gains tax hike announced in June. The Trudeau government claimed it was increasing taxes only on “0.13 per cent of Canadians in any given year”—a statistic that’s both misleading and incomplete. First, 0.13 per cent of Canadians “in any given year” are a different group than the 0.13 per cent of Canadians in the previous or following years, so many more than 0.13 per cent of Canadians will directly pay the tax.
Second, the tax hike also affects corporations, of which millions of Canadians are owners or part-owners (even excluding their ownership of publicly traded companies’ shares). Overall, economist Jack Mintz estimated that through their ownership of private corporations (based on 2021 data) about 4.74 million Canadians would be affected by the higher tax rate, or 15.8 per cent of tax filers. In other words, about 100 times more Canadians than the Trudeau government suggested.
And in reality, just about all Canadians will be made worse off by the tax hike because almost everyone will effectively be subject to the higher capital gains tax rate through their exposure to publicly traded corporations including through public pension plans.
Worse, because capital gains taxes are taxes on investment, the certain effect of the tax hike will be to reduce business investment. Unfortunately as multiple economic analyses have shown, business investment in Canada has already been extremely weak in the past decade, falling further behind the United States and other developed economies, and contributing to Canada’s productivity and economic stagnation crisis. The capital gains tax hike will make this even worse.
Finally, the Trudeau government ended 2024 with a so-called sales tax “holiday” for two months, which imposes severe administrative and logistical nightmares onto business owners (in a survey of small businesses, most opposed the change and 75 per cent said it would be costly and complicated to implement), and will do nothing to increase productivity or improve economic incentives.
Quite the opposite; government deficits fund the tax “holiday,” which will increase the future tax burden—something that will further reduce economic productivity in the future. Federal tax policy clearly was not kind to Canadians in 2024. Unfortunately, 2025 is looking no better.
Business
Carney’s European pivot could quietly reshape Canada’s sovereignty

This article supplied by Troy Media.
Canadians must consider how closer EU ties could erode national control and economic sovereignty
As Prime Minister Mark Carney attempts to deepen Canada’s relationship with the European Union and other supranational institutions, Canadians should be asking a hard question: how much of our national independence are we prepared to give away? If you want a glimpse of what happens when a country loses control over its currency, trade and democratic accountability, you need only look to Bulgaria.
On June 8, 2025, thousands of Bulgarians took to the streets in front of the country’s National Bank. Their message was clear: they want to keep the lev and stop the forced adoption of the euro, scheduled for Jan. 1, 2026.
Bulgaria, a southeastern European country and EU member since 2007, is preparing to join the eurozone—a bloc of 20 countries that share the euro as a common currency. The move would bind Bulgaria to the economic decisions of the European Central Bank, replacing its national currency with one managed from Brussels and Frankfurt.
The protest movement is a vivid example of the tensions that arise when national identity collides with centralized policy-making. It was organized by Vazrazdane, a nationalist, eurosceptic political party that has gained support by opposing what it sees as the erosion of Bulgarian sovereignty through European integration. Similar demonstrations took place in cities across the country.
At the heart of the unrest is a call for democratic accountability. Vazrazdane leader Konstantin Kostadinov appealed directly to EU leaders, arguing that Bulgarians should not be forced into the eurozone without a public vote. He noted that in Italy, referendums on the euro were allowed with support from less than one per cent of citizens, while in Bulgaria, more than 10 per cent calling for a referendum have been ignored.
Protesters warned that abandoning the lev without a public vote would amount to a betrayal of democracy. “If there is no lev, there is no Bulgaria,” some chanted. For them, the lev is not just a currency: it is a symbol of national independence.
Their fears are not unfounded. Across the eurozone, several countries have experienced higher prices and reduced purchasing power after adopting the euro. The loss of domestic control over monetary policy has led to economic decisions being dictated from afar. Inflation, declining living standards and external dependency are real concerns.
Canada is not Bulgaria. But it is not immune to the same dynamics. Through trade agreements, regulatory convergence and global commitments, Canada has already surrendered meaningful control over its economy and borders. Canadians rarely debate these trade-offs publicly, and almost never vote on them directly.
Carney, a former central banker with deep ties to global finance, has made clear his intention to align more closely with the European Union on economic and security matters. While partnership is not inherently wrong, it must come with strong democratic oversight. Canadians should not allow fundamental shifts in sovereignty to be handed off quietly to international bodies or technocratic elites.
What’s happening in Bulgaria is not just about the euro—it’s about a people demanding the right to chart their own course. Canadians should take note. Sovereignty is not lost in one dramatic act. It erodes incrementally: through treaties we don’t read, agreements we don’t question, and decisions made without our consent.
If democracy and national control still matter to Canadians, they would do well to pay attention.
Isidoros Karderinis was born in Athens, Greece. He is a journalist, foreign press correspondent, economist, novelist and poet. He is accredited by the Greek Ministry of Foreign Affairs as a foreign press correspondent and has built a distinguished career in journalism and literature.
Troy Media empowers Canadian community news outlets by providing independent, insightful analysis and commentary. Our mission is to support local media in helping Canadians stay informed and engaged by delivering reliable content that strengthens community connections and deepens understanding across the country.
Business
EU investigates major pornographic site over failure to protect children

From LifeSiteNews
Pornhub has taken down 91% of its images and videos and a huge portion of the last 9% will be gone by June 30 because it never verified the age or consent of those in the videos.
Despite an aggressive PR operation to persuade lawmakers that they have reformed, Pornhub is having a very bad year.
On May 29, it was reported that the European Commission is investigating the pornography giant and three other sites for failing to verify the ages of users.
The investigation, which comes after a letter sent to the companies last June asking what measures they have taken to protect minors, is being carried out under the Digital Services Act. The DSA came into effect in November 2022 and directs platforms to ensure “appropriate and proportionate measures to ensure a high level of privacy, safety, and security of minors, on their service” and implement “targeted measures to protect the rights of the child, including age verification and parental control tools, tools aimed at helping minors signal abuse or obtain support, as appropriate.”
According to France24: “The commission, the EU’s tech regulator, accused the platforms of not having ‘appropriate; age verification tools to prevent children from being exposed to pornography. An AFP correspondent only had to click a button on Tuesday stating they were older than 18 without any further checks to gain access to each of the four platforms.”
Indeed, Pornhub’s alleged safety mechanisms are a sick joke, and Pornhub executives have often revealed the real reason behind their opposition to safeguards: It limits their traffic.
Meanwhile, Pornhub — and other sites owned by parent company Aylo — are blocking their content in France in response to a new age verification law that came into effect on June 7. Solomon Friedman, Aylo’s point man in the Pornhub propaganda war, stated that the French law was “potentially privacy infringing” and “dangerous,” earning a scathing rebuke from France’s deputy minister for digital technology Clara Chappaz.
“We’re not stigmatizing adults who want to consume this content, but we mustn’t do so at the expense of protecting our children,” she said, adding later, “Lying when one does not want to comply with the law and holding others hostage is unacceptable. If Aylo would rather leave France than apply our law, they are free to do so.” According to the French media regulator Arcom, 2.3 million French minors visit pornographic sites every month.
Incidentally, anti-Pornhub activist Laila Mickelwait reported another major breakthrough on June 7. “P*rnhub is deleting much of what’s left of the of the site by June 30,” she wrote on X. “Together we have collectively forced this sex trafficking and rape crime scene to take down 91% of the entire site, totaling 50+ million videos and images. Now a significant portion of the remaining 9% will be GONE this month in what will be the second biggest takedown of P*rnhub content since December 2020.”
“The reason for the mass deletion is that they never verified the age or consent of the individuals depicted in the images and videos, and therefore the site is still awash with real sexual crime,” she added. “Since the fight began in 2020, 91% of P*rnhub has been taken down — over 50 million images and videos. Now a huge portion of the last 9% will be gone by June 30 because P*rnhub never verified the age or consent of those in the videos and the site is a crime scene.”
Mickelwait has long called for the shutdown of Pornhub and the prosecution of those involved in its operation. This second mass deletion of content, as welcome as it is, reeks of a desperate attempt to eliminate the evidence of Pornhub’s crimes.
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