In a letter to Finance Minister Chrystia Freeland today, a coalition led by the Canadian Chamber of Commerce says the federal budget’s increase to the inclusion rate for capital gains taxes will hurt future generations more than it might aid younger people now, and will hit one in five Canadians directly over the next decade. (The Logic)

Talking point: The letter claims the changes, expected to raise over $19.3 billion over five years for the federal treasury, will undermine investment decisions and pension returns, as well as discourage entrepreneurs—echoing furious criticisms from the tech sector and others. Freeland has stuck to her guns, arguing that inequality is an immediate threat to the Canadian economy. The coalition also includes the Canadian Federation of Independent Business, the Canadian Manufacturers and Exporters, the Canadian Venture Capital and Private Equity Association, the Canadian Franchise Association and the Canadian Canola Growers Association.