National Bank of Canada CEO Laurent Ferreira urges Canada to overhaul its tax system, arguing the current code is overly complex and costly. Multiple outlets report he wants the tax system “scrapped and redone” rather than incrementally amended.
The proposal described across sources centers on restarting the tax framework and commissioning expert work to draft a replacement. The Globe and Mail adds that Ferreira proposes creating a dedicated team of tax experts tasked with writing new tax code within a year. Bloomberg similarly highlights his call to rebuild the system from the ground up. Financial Post emphasizes that complexity creates a burden and real costs, particularly for small businesses.
While all sources focus on Ferreira’s argument for a complete rewrite, the emphasis varies between process and timeline (Globe and Mail), broad restart messaging (Bloomberg), and the impact on small businesses (Financial Post).
