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As the ratio of working Canadians to seniors continues to shrink, it will strain government spending earmarked for older folks in the years ahead due to fewer working taxpayers, a new study finds.
Shrinking ratio of Canadian workers to seniors will strain government finances in coming years; only 3 working age individuals for every senior by 2027, Understanding the Changing Ratio of Working-Age Canadians to Seniors and Its Consequences
Canadians who think that taxing “the rich” can finance Ottawa’s large spending programs may need to rethink as a new study finds that the amount extracted from upper-income families isn’t enough to fund federal spending, and the middle class eventually will have to chip in too.
"Ontario could balance its budget this spring by lowering its spending (levels) to those it inherited."
Investors are anxious, but they’re optimistic that the economy is strong enough to withstand what’s ahead.