Canada ‘s budget Deficit More than World War II

Apr 12, 2021 | Economy, Economy News

The Canadian federal governmet’s spending for 2020/2021 is now projected to exceed the spending at the peak of World War II and the highest in Canadian history at CAD381 billion. There seems to be no end spending as the government is trying to buy votes for the next election: Massive increases in child care and universal income (a basic or guaranteed income would provide a no-strings-attached minimum income to citizens that would amount to a $17,000-benefit for a single person or $24,000 for a couple) are being planned.  The universal income will cost about CAD85 billion a year. Immigrants comming to Canada should prepare themselves for much higher taxes for the next few decades. The upside is that  it might create more jobs for immigrants as the productivity might decrease (why work if you get no-strings attached guaranteed income)