income tax rate

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Earlier this month, Bill Morneau, the former chair of the C.D. Howe Institute, was appointed Canada’s minister of finance.

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In an attempt to increase transparency, Prime Minister Justin Trudeau has made “mandate letters” to his ministers publicly available. These letters are intended to clarify the focus of each minister’s portfolio.

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The new Trudeau government plans to raise personal income taxes on the top one per cent of Canadian income-earners in order to fund a personal income tax decrease on the middle class.

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This year's federal budget wasn’t all that surprising. Many of the government’s big initiatives were already announced or telegraphed in the Conservatives’ 2011 platform. The remainder included a smattering of smaller initiatives to satisfy various interest groups in advance of the federal election.

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Ontario Premier Dalton McGuinty could learn a thing or two from his colleague in New Brunswick, Liberal Premier Shawn Graham.

In 2006, after defeating the incumbent Conservative government, the newly elected Graham took a page from McGuinty's playbook and increased personal and corporate taxes. However, unlike McGuinty, Premier Graham seems to have learned from his mistakes and is reversing course.