Currently, equalization payments increase in line with nominal GDP growth.
Government Spending & Taxes
The province’s nominal debt will rise from $440 billion in 2021/22 to $504 billion in 2023/24.
From 2016 to 2019, Canada saw relatively low rates of growth in incomes and private-sector job creation.
Program spending is projected to increase from pre-pandemic levels by 15.2 per cent in 2021/22.
Budget 2021 includes $30 billion over five years for national childcare.
Nearly 60 per cent of the Liberal infrastructure spending was on “green” and “social” projects.
Even though the vast majority of Americans never lost their jobs, politicians sent stimulus money directly to most households.
Federal program spending in 2021 will reach a projected $11,370 per person—or 18.7 per cent of the economy.
The carbon tax will increase by $15 per tonne until it reaches $170 per tonne.
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