Increasing the capital-gains taxes will hurt health care in Canada

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Talent,Innovation,Life-Science

The negative effects of the 2024 budget for life science and health care in Canada will be pronounced

Prime Minister Justin Trudeau, Deputy Prime Minister, left, and Minister of Finance Chrystia Freeland hold copies of the federal budget before its tabling on Parliament Hill in Ottawa, on April 16., an international law firm. She is an internationally recognized adviser to life-science companies that develop novel therapeutic, medical device and health technologies, and to investors.

A familiar refrain I hear from my Canadian clients working in the sector is wondering whether they should stay in Canada or move to the United States. Meanwhile, venture capitalists and other life-science investors, who have historically concentrated their investments in Boston, Silicon Valley and San Diego, lament the increasingly prohibitive cost of hiring and retaining scientific talent in those core markets.

The proposed capital-gains tax increases will render Canadian cities even less competitive than locales south of the border or abroad. For private startups and public companies alike, stock options are used to attract and retain top-tier talent, many of whom will agree to forgo substantially larger salaries for a possible upside years down the road.

Source: Healthcare Press (healthcarepress.net)

Talent Innovation Life-Science Research Canada Access Care Silicon Valley Austin San Diego

 

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