By 2067, we will have only two working-age adults per senior. This shift will slow growth in the economy and government revenues
Parisa Mahboubi is a senior policy analyst at the C.D. Howe Institute, where William Robson serves as president and chief executive.
Expressing the required increase in provincial tax rates across the country as a liability comparable to more familiar measures of government debt yields similarly staggering numbers. In Ontario alone, the projected cost increase over the next 45 years has a present value of $723-billion, equivalent to 70 per cent of the province’s gross domestic product . The equivalent national figure is more than $2-trillion.
Shifting toward consumption taxes such as the GST/HST , which are less sensitive to demographic shifts, could provide a more stable revenue stream. Consumption taxes capture revenue from spending, which remains more constant even as the population ages, making them a crucial component of a sustainable fiscal strategy.
Population Health Money Wages Home Savings Revenue Labrador Newfoundland Ontario
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Radio Host In Disbelief As Male Colleagues Claim All Men “Dabble From Time To Time”'Do you girls really care if guys go and misbehave?'
Read more »
EFAP Counsellors -Full time, Part time, and Affiliate positions availableThunder Bay Counselling is a local provider of Employee and Family Assistance Programs (EFAP) for workplaces in Thunder Bay and District. We are currently looking for counsellors to support this Program.
Read more »
MTV Video Music Awards are back, Taylor Swift poised to make history12-time nominee chasing Beyonce for all-time win numbers
Read more »
Fed's Daly says it is time to consider adjusting borrowing costs, FT reports'Gradualism is not weak, it's not slow, it's not behind, it’s just prudent,' Daly said to the newspaper, adding the labor market, while slowing, was 'not...
Read more »
Fed's Daly says it is time to consider adjusting borrowing costs, FT reports'Gradualism is not weak, it's not slow, it's not behind, it’s just prudent,' Daly said to the newspaper, adding the labor market, while slowing, was 'not...
Read more »
Dutch elm disease emerges in Edmonton for the first timeThe City of Edmonton identified its first cases of Dutch elm disease during a routine inspection earlier this summer.
Read more »