Mark Carney plans to announce he won’t follow through with a proposed increase to Canada’s capital gains tax if he wins the Liberal Party leadership race and becomes prime minister, according to a person familiar with the matter.

The capital gains hike is now unlikely to happen at all. Carney’s chief rival in the Liberal contest, former Finance Minister Chrystia Freeland, has said she wouldn’t go forward with it. Conservative Leader Pierre Poilievre has also rejected the tax change.

Canada’s national carbon tax on consumer fuels is likely in its final weeks after both major contenders to replace Prime Minister Justin Trudeau as Liberal leader have promised to scrap it.