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In spite of the high incomes and large income from corporate taxes, Alberta has an income tax rate that is much lower than the Canadian average, but by 2017, it also had a $10.5-billion deficit. Tombe said that if Alberta had a tax rate similar to the Canadian average, the province would have a surplus not a deficit. [28]
Studies have come to different conclusions about the result of this disparity in spending. A 2007 review of all studies comparing health outcomes in Canada and the US in a Canadian peer-reviewed medical journal found that "health outcomes may be superior in patients cared for in Canada versus the United States, but differences are not consistent."
Canada's fiscal deficit for the year ended March came in at C$61.9 billion ($43.45 billion) - about 50% more than what was projected and missing one of the three key fiscal objectives Finance ...
The Canada Recovery Sickness Benefit (CRSB) provides $500 per week (2 weeks maximum) for workers who: (a) "are unable to work for at least 50% of the week because they contracted COVID-19;" (b) "are self-isolated for reasons related to COVID-19;" or (c) "have underlying conditions, are undergoing treatments or have contracted other sicknesses ...
Canada's budget deficit for the first six months of the 2024-25 fiscal year jumped by more than a half to C$13.01 billion ($9.28 billion) as program expenses and debt payment costs rose faster ...
Canada recorded a slightly lower C$14.50 billion ($10.09 billion) budget deficit for the first seven months of the 2024/25 fiscal year compared to the previous year as revenues grew faster than ...
Budgets are a confidence measure, and if the House votes against it the government can fall, as happened to Prime Minister Joe Clark's government in 1980. The governing party strictly enforces party discipline, usually expelling from the party caucus any government Member of Parliament (MP) who votes against the budget. Opposition parties ...
According to the IMF's 2018 annual Article IV Mission to Canada, compared to all the G7 countries, including the United States, Canada's "total government net debt-to-GDP ratio", is the lowest. [9] Canada has been the G7 leader in economic growth since 2016. [9] The unemployment rate in Canada is at its lowest level since c.1978. [9]