A serious approach to food inflation would focus on reducing costs to producers and encouraging greater supply.
We’ve seen a steady erosion of per-capita GDP growth and persistent government deficits.
In 2022, real GDP per person remained below the 2019 level and was scarcely higher than five years earlier.
In March, food prices were 9 per cent higher than a year earlier.
Supply management costs the average Canadian household an estimated extra $300 to $444 annually.
Reductions in purchasing power tend to be concentrated among lower-income workers.
Due to the new tax, financial capital will be used less efficiently and productivity will suffer.
Ottawa is spending nearly one-third more than it was in 2019 before the pandemic.