Scotiabank CEO Wants Top Up For Child Tax Credit

Scotiabank President & chief executive officer Brian Porter wants to top up the Canada Child Benefit by an extra C$5,000 for each child in childcare, as well as increasing the Canada child tax credit to allow parents to fully deduct the cost of preschool childcare.

At the Bank's 189th Annual Meeting of Shareholders, Porter said he proposed that the federal government launch a time-limited, matching grant for capital investment by businesses that invest in machinery, equipment and intellectual property.

He suggested the elimination of interprovincial trade barriers - a policy the Bank has been advocating for many years. According to a working paper produced by the IMF, complete liberalization of internal trade in goods could increase Canada's GDP per capita by approximately 4% per year.

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