OTTAWA – The Liberal caucus is holding a “special” meeting on Parliament Hill Monday morning featuring Finance Minister Bill Morneau, sources confirm to CTV News.
“Attendance is mandatory and the meeting will feature a briefing by Minister Morneau,” the notice from Liberal caucus chair Francis Scarpaleggia reads.
Liberal MPs have been told to be back in Ottawa in time for an 8 a.m. meeting in the room where they hold the regular Wednesday caucus meetings.
Prime Minister Justin Trudeau will also be there.
It’s expected Morneau will be briefing MPs on the next steps of the contentious tax reform proposal. The government has been dogged by criticism over its proposal to cut tax loopholes, a file Morneau is leading.
After the consultation window ended on Oct. 2, Morneau said the final plan would be revealed in the coming weeks. Liberal MPs have expressed concern over the way the government approached the changes that it says would have allowed high-earning business owners to avoid higher tax rates.
The opposition Conservatives and business owners, including doctors and farmers, worried that the three-pronged proposal would hurt small businesses.
The changes would target so-called “income sprinkling,” which allows a business owner to split his or her income among family members; change methods of converting income into dividends and capital gains; and limit passive business income taxation.
The government has already drafted legislation on the income sprinkling and capital gains changes, but had yet to write its plan on passive investment. Morneau has said the government would consider changes to avoid potential unintended consequences of the reforms.
MPs have spent the last week in their ridings, but were already scheduled to return to Ottawa on Monday for the next few weeks of Parliament.
