Less for Ottawa, More for Canadians: The C.D. Howe Institute's 2024 Shadow Budget

Nowhere did it acknowledge the implications of high public debt for future taxes, economic growth, fiscal sustainability or intergenerational fairness. [...]it contains initiatives to improve the coherence of Canada's tax system, promote economic growth and charitable giving, and help Canadians...

Full description

Saved in:
Bibliographic Details
Published in:Commentary - C.D. Howe Institute 2024-02 (653), p.0_1-12
Main Authors: Robson, William B P, Drummond, Don, Laurin, Alexandre
Format: Article
Language:English
Subjects:
Aging
Borrowing
Canadians
Charitable foundations
Cost control
Economic growth
Federal budget
Federal government
Fiscal years
GDP
Gross Domestic Product
Pandemics
Relief provisions
Standard of living
Tax increases
Taxes
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Nowhere did it acknowledge the implications of high public debt for future taxes, economic growth, fiscal sustainability or intergenerational fairness. [...]it contains initiatives to improve the coherence of Canada's tax system, promote economic growth and charitable giving, and help Canadians prepare for demographic ageing. Growth in program expenses, even before including net actuarial losses - belated recognition of the cost of the federal government's pension obligations, which it shows below subtotals for expenses and deficits that exclude the losses - underlies the unsatisfactory FES fiscal results. The higher cost of the federal government has not produced any proportional improvement in the quality of federal public services - indeed, key functions, notably defence, increasingly seem inadequate to meet the needs of Canadians and Canada's role in global affairs.
ISSN:0824-8001
1703-0765