Government Spending & Taxes

— Jul 7, 2022
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The Fiscal Costs of Debt-Financed Government Spending

The Fiscal Costs of Debt-Financed Government Spending is a new study that finds debt-financed government spending has real economic costs, even when interest rates are very low, including slower economic growth, lower private sector incomes, and spending cuts and/or tax increases by government to stabilize debt levels.

— Jun 28, 2022
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Indigenous Spending in Budget 2022

Indigenous Spending in Budget 2022 finds that the federal government’s recent substantial increase of Indigenous spending—which will reach a projected $35.5 billion in 2026-27—is mainly due to judicial settlement payouts.

— Jun 21, 2022
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The Accumulated Debt and Economic Performance of Industrialized Countries during COVID finds that Canada had the second-highest increase in gross debt (as a share of the economy) out of 33 countries from 2019 to 2021 while actually underperforming economically compared to most of the same countries.

— Jun 15, 2022
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This year, Tax Freedom Day is Wednesday, June 15. If you had to pay all your federal, provincial and municipal taxes up front, you would give government every dollar you earned from January 1st to Tax Freedom Day, when Canadians finally start working for themselves. In 2022, the average Canadian family (with two or more people) will pay 45.2 per cent of its annual income in taxes, including income taxes, payroll taxes, health taxes, sales taxes, property taxes, fuel taxes, carbon taxes and more.

— Jun 8, 2022
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Do Budget Deficits Matter?

Low Interest Rates and the Cost of Government Debt and Canada’s Budget and Deficit Cuts in the Late 20th Century: An Amazing Success Story are the latest installments in an essay series on government deficits that emphasize the risks of higher interest costs on government debt, and note the similarities between today’s federal fiscal situation and the mid-1990s when interest costs consumed one of every three dollars of government revenue. At that time, the government enacted major reforms—including spending reductions—to help dramatically reduce the federal debt.

— May 26, 2022
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Understanding the Changing Ratio of Working-Age Canadians to Seniors and Its Consequences

Understanding the Changing Ratio of Working-Age Canadians to Seniors and Its Consequences is a new study that finds as Canada’s population ages, the number of working-aged Canadians relative to the number of seniors has declined from 5.4 in 2000 to 3.4 in 2022, which means government spending related to seniors is increasing at the same time that the growth in tax revenues is declining.

— May 12, 2022
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What Changed in Alberta from the Fall 2021 Mid-year Update to Budget 2022

What Changed in Alberta from the Fall 2021 Mid-year Update to Budget 2022 is a new study that finds following a windfall in resource revenue, the recent Alberta budget increased program spending by $4 billion over the next three years. This increase in spending is above and beyond what would be required to keep pace with inflation and population growth.

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