The federal Liberals are hinting they may take another look at what they're calling the "unintended consequences" of their proposed tax changes.

Foothills MP John Barlow says Finance Minister Bill Morneau needs to get rid of it altogether.

"The words that he used was 'tweaking' but this is not something that needs tweaking, this is something that does not need to happen," Barlow says. "The first step is to extend the consultation period into January of 2018."

He says the Liberals put out the new policies without doing any of the financial impact analysis that should be done first and that's where the unintended consequences come from

"Those things should have been discovered way before you table proposed legislation and they didn't do any of those things and I think that's where they're finding themselves in a lot of trouble," he says. "They had a solution and then they were trying to find a problem. No one was asking for these changes."

He says the Conservatives have done the analysis with the finance department and found the government would collect more tax dollars from small business owners who were investing in passive income tools, at the end of 10, 15 or 20 years when they take that money out they'd be taxed on it again and the government would be better off.

Barlow says the proposed changes would hit farmers, small businesses and entrepreneurs the hardest.

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