The province's program spending will reach $193.0 billion this year—an increase of $2.3 billion from the budget tabled in March.
The top tax rate in Sweden applies to income starting at roughly US$62,000 compared to between US$535,000 and US$1 million in the United States.
Business investment provides workers with the tools and new technologies to produce more and better goods and services.
Businesses in Canada went from investing approximately 79 cents per worker (for every dollar invested in the U.S.) in 2014 to only 55 cents in 2021.
The top 20 per cent of income-earning families in Canada pay nearly two-thirds of all income taxes.
The federal and provincial governments project combined budget deficits of $233.5 billion in 2021.
The Biden administration plans to increase the U.S. federal corporate tax rate from 21 per cent to 28 per cent.
The government offset the benefits of the lower tax rate by eliminating tax credits.
Canada has the seventh-highest top combined personal income tax rate in the OECD.