Federal Finance Minister Bill Morneau is climbing down from another controversial tax proposal to address the concerns of farmers and fishers. "We're going to take a step back and reconsider that aspect of our tax proposal," he said. Morneau said his new tax proposals will ensure farmers and fishers can pass on the family business. The Liberals are continuing their week-long effort to adjust the proposals in hopes of calming angry entrepreneurs, doctors, farmers, tax experts and Liberal backbench MPs. On Monday, the government announced plans to cut the small business tax rate from 10.5 per cent to nine per cent by 2019.

Source: CBC News October 19, 2017 12:45 UTC