McGuinty’s new top tax bracket was called the temporary “deficit-fighting high income tax bracket.”
Low-income families now pay more taxes than before this government’s reforms.
The B.C. government also raised the general business income tax rate from 11 per cent to 12 per cent.
In seven provinces, the top personal income tax rate exceeds 50 per cent.
Both Saskatchewan and British Columbia now have lower corporate tax rates than Alberta.
Nine-in-10 Canadian families with children will pay, on average, $2,218 more per year.
As a share of GDP, business investment in Canada stands around 11 per cent.
The NDP-Green tax changes, if fully implemented, will increase the tax burden for the average British Columbian family by $594.
After peaking in 2006, the share of the one per cent has steadily declined from 13.7 per cent to 11.6 per cent in 2014.