The auditor general noted there were 3.8 million more social insurance numbers for Canadians 20 years and older than actual people in that age group.
Government Spending & Taxes
Governments can find themselves at a new baseline spending level far in excess of revenues.
For now, the new wage subsidy program will cost $71 billion.
Default risk and exchange-rate risk increase for foreign lenders as they increase their holdings of any government’s debt.
Provincial government debt-service costs are set to reach $13.2 billion this year.
Effectively, the CERB will now cost $40 billion, up from $15 billion.
The principle of no taxation without representation is central to the concept of democracy.
Ottawa will spend up to $27 billion supporting individual Canadians and businesses.
Alberta saw spending reductions of 20 per cent during the reforms of the 1990s.
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