Deficits, among other consequences, weaken business confidence in Canada’s economy.
Are we really going to spend $135 million on talk shows?
With more tax credits, the government has to keep income tax rates higher to raise the same amount of revenue.
This week’s 2016 Economic Statement cut average growth to 1.7 per cent over the next five years.
The government has removed its annual safety cushion of $6 billion per year.
Reports in advance of Ottawa’s federal fiscal update suggest the deficit may reach $34 billion.
Canada’s top personal income tax rate is among the highest in the developed world.
High marginal effective tax rates weaken the incentives for people to earn extra money.