The budget creates a new, higher top personal income tax rate of 16.8 per cent.
Government Spending & Taxes
Ontario’s net debt will rise to a projected $336 billion.
Since 1961, the average Canadian family has seen their taxes increase 157.6 per cent.
The federal government wants to crack down on tax rules for small businesses.
Through two years, the Notley government has increased spending by 11 per cent.
Tucked away in the middle of the country, Manitoba has managed to keep a low profile when it comes to its fiscal situation, but it hasn’t balanced a budget since 2009.
From 2015/16 to the current fiscal year, program spending in Alberta will have increased by 11 per cent.
The government’s plan for a strong middle class appears based on expanding spending on borrowed money.
An economic slowdown or recession would make the Wynne government’s debt reduction plan much less likely.
From 2007 and 2015, Alberta contributed $188.6 billion more in taxes to Ottawa than it received in transfers or federal programs.
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