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Canadian Tax Relief at Last? Dec 99
Standard & Poors, Dec 1999
Abstract
For much of the past three decades, Canadians have endured ever increasing levels of taxation to support a steady climb in spending by all three tiers of government. According to the Organization for Economic Co-operation and Development (OECD), total tax revenues in Canada represented around 25% of GDP in 1965, very similar to the U.S. share. However, Canadian taxes were eating up 36% of GDP by 1996, while the U.S. tax-to-GDP ratio had not climbed by much at all. The size of Canada's public sector expanded even more rapidly over this period, with total government spending as a share of GDP soaring to an all-time high of about 50% by the mid-1990s, from close to 30% in the mid-1960s. Whereas...
Companies mentioned in this report are: British Columbia (Province of),Canada,New Brunswick (Province of),Newfoundland and Labrador (Province of),Nova Scotia (Province of),Ontario (Province of),Quebec (Province of),Saskatchewan (Province of),Alberta (Province of),Manitoba (Province of)
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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