The Hill Times
Canadians are flocking south in record numbers to live in the United States, due likely in part to Canada’s high taxes and faltering economy. Clearly, the policy status quo in Ottawa cannot continue. First, on the tax front, Canada’s top combined—federal and provincial—personal income tax rate ranked fifth-highest out of 38 Organisation for Economic Co-operation and Development countries in 2022 .
So, what’s the solution? Despite the past decade of deficits and debt accumulation, as noted in a new study published by the Fraser Institute, a balanced budget—and tax rate reductions for many working Canadians—are within reach if Ottawa changes course. Specifically, if the federal government reduced program spending by only 2.
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