OTTAWA — The federal government is delaying a flagship policy from last year’s budget by pushing back the capital gains tax hike until Jan. 1, 2026.

The move likely means the hike will be reversed before it was ever implemented in Parliament. The Opposition Conservatives had pledged to scrap the tax hike, along with Liberal leadership contender Chrystia Freeland. Liberal contenders Mark Carney and Karina Gould both said they would review the policy.