Federal Deficits and Recession: What Could Happen finds that a recession could push the annual federal deficit to between $46 and $120 billion by 2020/21 given the federal government is already running deficits during times of positive economic growth.
The Effect on Canadian Families of Changes to Federal Income Tax and CPP Payroll Tax finds that more than 92 per cent of all families in Canada with children—regardless of their income—will pay higher taxes because of Ottawa’s income tax changes and the increased Canada Pension Plan payroll tax, which will be fully implemented by 2025.
The Age of Eligibility for Public Retirement Programs in the OECD finds that Canada is out of step with most major industrialized countries—and the other G7 nations—which are increasing the age of eligibility for public retirement programs. In fact, of the 22 high-income industrialized countries (apart from Canada) in the Organization for Economic Co-operation and Development (OECD), 18 of them—82 per cent—are increasing the age of eligibility for government retirement programs.
Bending the Curve: Recent Developments in Government Spending on First Nations finds that First Nations across Canada are generating billions in revenue for themselves—and not only from natural resources. According to the study, the average own-source revenue total for approximately 80 per cent of all First Nations in Canada (those with publicly available data) was $5.9 million in 2015/16.
The Impact of Interprovincial Migration of Seniors on Provincial Health Care Spending finds that migrating seniors have increased B.C.’s health-care costs by more than $7.0 billion over the past 36 years, while effectively saving Quebec $6.0 billion. That’s because Canadians pay most of their lifetime taxes during their working lives, but consume most of their health-care costs after they retire. B.C. and five other provinces saw a net inflow of seniors since 1980, while Quebec and the other provinces saw a net outflow.
Effect of Federal Income Tax Changes on Canadian Families Who Are in the Bottom 20 Percent of Earners finds that the federal government’s tax changes, implemented since the 2015 election, have raised income taxes for the majority (61 per cent) of taxpaying Canadian families in the bottom 20 per cent of earners, which includes families with children with incomes up to $66,448.
Canada’s Aging Population and Implications for Government Finances finds that the aging population will put significant stress on government spending programs and could increase deficits for federal and provincial governments to an estimated $143 billion by 2045—three and a half times larger than total federal and provincial government deficits in 2017.