An economic slowdown or recession would make the Wynne government’s debt reduction plan much less likely.
Government Spending & Taxes
From 2007 and 2015, Alberta contributed $188.6 billion more in taxes to Ottawa than it received in transfers or federal programs.
Over the past 26 years, government-sector debt in Canada has grown to more than $2.5 trillion.
The current federal government raised the top federal personal income tax rate to 33 per cent.
One of the main sources of tax system complexity is the proliferation of credits, deductions and other special preferences.
Canada’s income tax began during the First World War.
Ontario’s top combined marginal personal income tax rate is 53.5 per cent.
Economic recovery in Alberta is crucial not just for Albertans, but for Canada’s public finances.
The Trudeau government has increased the incentive for tax planning.
Government workers in Alberta are away from their jobs for personal reasons 73 per cent more days per year than private sector workers.
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