Posts Tagged ‘tax’
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Deficit hysteria breaks out in wake of Liberal budget
The size of the Liberal deficit is easily overstated. Unifor economist Jordan Brennan has produced a table showing that in the 1980s, the Mulroney Conservatives ran a budget deficit equal to 50 per cent of government revenue. The 2016 federal deficit amounts to 10 per cent of government revenue… The problem with the 2016 Trudeau budget is that the deficit is too small, not too large.
Business waits for consumers to up purchases before investing; the world economy is sluggish; and governments need to step up.
Tags: budget, economy, ideology, standard of living, tax
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New child benefit program an unintended legacy of Harper-era policies
The Conservative fiscal legacy to the new government was… almost $9-billion in annual spending on child benefits in the form of non-redistributive programs, which could readily be folded into the new CCB while benefiting the great majority of families with children… Working families with children earning between $30,000 and $100,000 will receive in the range of $1,000 a year per child more than the they did in the system in place in 2015.
Tags: budget, child care, featured, ideology, jurisdiction, participation, poverty, standard of living, tax
Posted in Child & Family Policy Context | No Comments »
Wynne promises new fundraising rules after Toronto Star probe
“The government will bring forward a plan in the fall and that will include new rules on third-party advertising . . . it will also include transitioning away from corporate and union donations, (and) lowering the annual donation limit,” she said, referring to the existing $9,975 contribution cap that is routinely exceeded due to loopholes. Corporations, unions and individuals can donate much more than their yearly limit by giving additional cash during byelections and by bankrolling candidates during party leadership campaigns.
Tags: ideology, jurisdiction, privatization, rights, tax
Posted in Governance Policy Context | No Comments »
The Social-Policy-Is-Back Budget
March 2016 marked a significant turning point in the country. Social policy is back! It comprises, once again, a vital component of Canada’s DNA. We are particularly pleased with the announcement of the Canada Child Benefit… We do have a concern, however, regarding… the distributional impact of the middle class tax cut is problematic.
Tags: budget, child care, economy, featured, housing, ideology, Indigenous, pensions, tax
Posted in Governance Policy Context | No Comments »
Escalating fundraising demands part of ‘the system’ at Queen’s Park
Corporate and union contributions that Wynne persists in publicly defending create a demonstrable conflict of interest for cabinet ministers, which is why they were banned for federal parties in 2006, and are no longer legal in four other provinces… top cabinet ministers at Queen’s Park are given financial targets… never written down, conveyed instead by the Ontario Liberal Fund through confidential meetings and phone calls.
Tags: ideology, jurisdiction, participation, privatization, standard of living, tax
Posted in Governance Debates | No Comments »
How high-tax Canada is driving away billionaire entrepreneurs like Murray Edwards
… there are already plenty of high-net-worth Canadians living in London, Monaco and the Caribbean. These are choices the ultra-wealthy face that make them different from the rest of us… the generous “non-domiciled” tax breaks in Britain that allow wealthy foreigners to live there but pay almost no income taxes — successfully luring to the U.K. waves of migratory billionaires, celebrities and Russian oligarchs… Canada’s average combined top marginal tax rate, at 53 per cent, is now one of the highest in the Western world
Tags: budget, economy, globalization, ideology, standard of living, tax
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Cut consultants, ads and travel even more
the government pays consultants and other private companies about $8 billion a year for professional services such as legal advice, engineering expertise, temporary office help and translation. In its first budget the Liberal government declared itself “committed to eliminate poorly targeted and inefficient programs, wasteful spending, and ineffective and obsolete government initiatives.” … discussions are continuing with federal bureaucrats to trim the use of consultants even further… the government described its modest $221-million budget initiative as “a first step.”
Tags: budget, economy, ideology, tax
Posted in Governance Debates | No Comments »
For Trudeau, it’s just a start, though it’s a good start
The big story of Tuesday’s milestone federal budget is Canada’s remarkably altered set of priorities. Variations on a theme of investing in people, they include cities, where more than 80 per cent of Canadians live. They include ending abysmal living conditions in aboriginal communities, which are an international disgrace. And the budget marks the return to a role for Ottawa as a major provider of social housing.
Tags: budget, economy, featured, housing, ideology, Indigenous, jurisdiction, standard of living, tax
Posted in Governance Policy Context | No Comments »
Morneau expects to raise $3-billion a year by cancelling more tax credits
Mr. Morneau said a review of so-called tax expenditures will begin this year and he’s optimistic that it will produce billions in new revenue… The budget gave the CRA $444-million over five years to fight tax evasion and avoidance, and booked $2.6-billion in expected new revenue from this added enforcement activity… “… our objective is to make the tax code simpler and our objective is to ensure that there’s tax fairness.”
Tags: budget, economy, featured, ideology, standard of living, tax
Posted in Governance Policy Context | No Comments »
How federal budget 2016 aims to help middle-class wallets, and target wealthy Canadians: ‘A classic soak the rich scheme’
… the budget proposes to do away with income splitting for couples with children under the age of 18 for the 2016 tax year and going forward… Pension income-splitting is not affected by the changes… the government is taking away some key tax planning vehicles that allow the wealthy to rebalance their portfolios without incurring a deemed disposition, meaning they will face immediate tax consequences.
Tags: budget, economy, featured, ideology, jurisdiction, participation, standard of living, tax
Posted in Governance Policy Context | No Comments »
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