Corporate welfare cost Canadian taxpayers more than $350 billion from 2007 to 2019, says a Fraser Institute study.
The study says the total cost of all corporate welfare for every Canadian who filed income taxes from 2007 to 2019 was highest in Saskatchewan at $18,785, followed in descending order by Quebec ; Prince Edward Island ; Alberta ;and New Brunswick .Among the provinces, total provincial subsidies to businesses was highest in Quebec at $79.6 billion, followed by Ontario at $73.4 billion and B.C. at $22.9 billion.
In P.E.I. and Quebec, total provincial subsidies to businesses on average exceeded the amounts they received in provincial corporate income tax revenue by margins of 162.9% and Quebec .Article content In Manitoba, the comparable number was 97.6%; Saskatchewan, 88.6%; B.C., 70.7%; Nova Scotia, 47.6%; and Ontario, 46.1%.business subsidies represented between 30% to 40% of all corporate income tax revenues on average.
“It is important to note that this is not a comprehensive measure of government support to businesses, which would include all amounts delivered through tax expenditures, loan guarantees, direct investment, and regulatory privileges extended to particular firms or industries,” the study says. “The true level of government support to select businesses would be even higher.
“To the extent that subsidies do not foster widespread economic growth — as the literature suggests is the case — business subsidies stand out as a key area for spending reform.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
The high cost of corporate welfare paid by Canadian taxpayersCorporate welfare cost Canadian taxpayers more than $350 billion from 2007 to 2019, says a Fraser Institute study.
Lire la suite »
The high cost of corporate welfare paid by Canadian taxpayersCorporate welfare cost Canadian taxpayers more than $350 billion from 2007 to 2019, says a Fraser Institute study.
Lire la suite »
Canadian regulator takes control of Silicon Valley Bank's Canadian branchA Canadian regulator on Sunday said it was taking temporary control of Silicon Valley Bank’s Canadian branch, as the fallout from the collapsed U.S.…
Lire la suite »
Canadian regulator takes control of Silicon Valley Bank's Canadian branchA Canadian banking regulator on Sunday said it was taking temporary control of Silicon Valley Bank’s unit in the country, as the fallout from the collapsed…
Lire la suite »
Will Page: Bill C-11 threatens to derail progress technology has brought to Canadian cultureBill C\u002D11 should focus on market\u002Dfriendly solutions that align with the on\u002Ddemand nature of streaming. Read more.
Lire la suite »
Co-founder of Canadian home goods brand Fable talks responsible design and environmental impactJoe Parenteau opens up about starting his Vancouver-based premium homeware brand
Lire la suite »