
According to the Canadian Taxpayers Federation, the National Debt is now close to $1.21 trillion dollars, which amounts to $30,602 per Canadian. The government expects to pay more than $46.5 billion to service the debt for 2023/24. This exceeds 10% of the federal revenue threshold, recommended by David Dodge, former Bank of Canada Governor. A report from the Fraser Institute states: “In 2021, the average Canadian family (in which two partners are working) earned an income of $99,030 and paid total taxes equaling $42,547 (43.0%).” What does this mean on Cortes Island? Or in Area C?
Continue reading Canada’s National Debt in 2023 (Includes Cortes and Area C data)