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“Interest costs rise from a budgeted $22.1 billion in 2021-22 to $35.2 billion, an increase of 59.4%” says the report,
Interest Cost Risks to Government Budgets, by Jason Clemens, Milagros Palacios and Jake Fuss, released Tuesday.
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Try refreshing your browser. GOLDSTEIN: Servicing public debt eroding nation s finances report Back to video
The fiscally conservative think tank projects interest payments on public debt will also increase in every province this year except New Brunswick, from a high of 35.7% in Nova Scotia to a low of 3.4% in Quebec.
The Trudeau government argues historically low interest rates mean its massive deficit spending because of the pandemic can be easily financed, noting interest payments on debt are about 1% of the country’s Gross Domestic Product (GDP), compared to a high of 6% in 1995.
GOLDSTEIN: Servicing public debt eroding nation s finances -- report torontosun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from torontosun.com Daily Mail and Mail on Sunday newspapers.
By Jake Fuss and Milagros PalaciosHave you ever wondered how much you actually pay in taxes each year? While tax returns help us understand how much income tax we pay, it’s difficult for most Canadians to calculate their total tax bill.
OPINION: Happy Tax Freedom Day — higher taxes loom on the horizon edmontonsun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from edmontonsun.com Daily Mail and Mail on Sunday newspapers.
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Have you ever wondered how much you actually pay in taxes each year? While tax returns help us understand how much income tax we pay, itâs difficult for most Canadians to calculate their total tax bill.
In Canada we pay many different taxes to the federal, provincial and local governments. Some of these taxes are visible but many are hidden, which adds to the confusion. Not only do we pay income taxes, we also pay property taxes, payroll taxes (such as the Canada Pension Plan), health taxes, sales taxes including the GST, taxes on gasoline, taxes on imported goods, âsinâ taxes and so on.