Fraser Institute

Fraser Institute News Release: New Brunswick’s spending restraint creating tax relief opportunity of more than $3,600 per tax filer

Retrieved on: 
Thursday, August 10, 2023
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HALIFAX, Nova Scotia, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The New Brunswick government’s recent spending restraint could allow for a much-needed tax relief equivalent to $3,604 less per tax filer, finds a new study published by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

Key Points: 
  • HALIFAX, Nova Scotia, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The New Brunswick government’s recent spending restraint could allow for a much-needed tax relief equivalent to $3,604 less per tax filer, finds a new study published by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
  • “In recent years New Brunswick’s provincial government has begun to make substantial progress in addressing its fiscal challenges, and this hard work could pay off for taxpayers as it creates the fiscal room necessary for much-needed tax relief,” said Ben Eisen, senior fellow at the Fraser Institute and co-author of New Brunswick’s Divergent Finances: A Possible Opportunity for Tax Reduction.
  • As a result, New Brunswick is now positioned to introduce meaningful tax relief, which if current government revenue and spending growth continues, could reach over $3,600 per taxpayer by 2032/33 without jeopardizing the province’s balanced budget.
  • “By continuing to exercise restraint in spending and paying down debt, the New Brunswick government is in a position to reduce the tax burden and improve the province’s tax competitiveness without going into deficit,” said Alex Whalen, associate director of Atlantic Canada Prosperity at the Fraser Institute.

Fraser Institute News Release: B.C.’s provincial debt projected to hit $97.2 billion by 2025/26 because of higher debt-financed spending

Retrieved on: 
Thursday, August 10, 2023
Government, Bangladesh Technical Education Board, Growth, Causality, Public policy, Fraser Institute, COVID

The study finds that from 2000-2017 per person program spending increased by 8.4 per cent (adjusted for inflation).

Key Points: 
  • The study finds that from 2000-2017 per person program spending increased by 8.4 per cent (adjusted for inflation).
  • But more recently, and in a much shorter time period, specifically from 2017 to 2022—even excluding COVID spending—per person spending increased by 25.9 per cent.
  • The government's spring budget forecasted that the provincial debt as a share of the economy will reach 22.5 per cent by 2025/26 and total $97.2 billion.
  • Conversely, had the government maintained the rate of spending growth from the previous era of restraint, the debt ratio in 2025/26 would be just 5 per cent—and total $21.3 billion.

Fraser Institute News Release: Canada’s aging population could lower per person income (broadly measured) by $11,200 over the next 20 years

Retrieved on: 
Thursday, August 3, 2023
Statistics, Effect, Public policy, Fraser Institute, Bangladesh Technical Education Board, Ageing, Population ageing, GDP, Statistics Canada, Economic growth, Health insurance

VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Under fast-aging population projections, Canada’s aging population could lower per person GDP, a broad measure of income, by $11,200 by 2043, finds a new study published by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

Key Points: 
  • VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Under fast-aging population projections, Canada’s aging population could lower per person GDP, a broad measure of income, by $11,200 by 2043, finds a new study published by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
  • Canadians aged 65 years and older accounted for 18.8 per cent of the population in 2022.
  • Over time, this small difference in per person GDP growth rates can have large effects.
  • “As the population continues to age, it will only compound Canada’s ongoing economic and fiscal challenges,” said Fuss.

Skyharbour Announces Additional Uranium Property Staking Increasing Total Portfolio to Over 518,000 Hectares in the Athabasca Basin, Saskatchewan

Retrieved on: 
Tuesday, August 1, 2023
Eagle Point, Magnetism, CBX, Athabasca Basin, Fraser Institute, Snow, Bangladesh Technical Education Board, Mining, Russell Lake, Ross, Uranium mining, Rabbit Lake

Skyharbour’s New Uranium Project Portfolio Map:

Key Points: 
  • Skyharbour’s New Uranium Project Portfolio Map:
    Jordan Trimble, President and CEO of Skyharbour Resources, states “We continue to add to our dominant uranium project portfolio in the Athabasca Basin with this recent staking while advancing our core projects through ongoing drilling and exploration.
  • Similar lithologies host uranium mineralization at the Rabbit Lake operation, including the Eagle Point deposit, and other uranium deposits in the Athabasca Basin and surrounding regions.
  • These new claims have seen no modern exploration, although drilling and other modern exploration have been done on adjacent properties.
  • *SMDI refers to the Saskatchewan Mineral Deposits Index and “AF” refers to Saskatchewan Mineral Assessment File.

Fraser Institute News Release: Top 20% of Canadian income-earning families pay 53% of all taxes

Retrieved on: 
Tuesday, August 1, 2023
Tax, Quality of life, Public policy, Fraser Institute, Research, Government, Bangladesh Technical Education Board, Entrepreneurship, Life insurance

“Despite the common misperception that top earners don’t pay their ‘fair share’ of taxes, in reality these households pay a disproportionately large share of the total tax bill,” said Jake Fuss, director of fiscal studies at the Fraser Institute and co-author of Measuring Progressivity in Canada’s Tax System, 2023 .

Key Points: 
  • “Despite the common misperception that top earners don’t pay their ‘fair share’ of taxes, in reality these households pay a disproportionately large share of the total tax bill,” said Jake Fuss, director of fiscal studies at the Fraser Institute and co-author of Measuring Progressivity in Canada’s Tax System, 2023 .
  • The key to understanding ‘fairness’ is comparing the share of income earned by one group compared to their share of total taxes paid.
  • By this objective measure, the top 20 per cent of income-earning families is the only group to pay a disproportionate share of the total tax burden compared to their share of income earned.
  • Conversely, the bottom 20 per cent of income-earning families pay 2.0 per cent of total taxes while earning 5.1 per cent of the total family income in Canada.

Fraser Institute News Release: Health-care costs for typical Canadian family will reach almost $17,000 this year

Retrieved on: 
Thursday, July 27, 2023
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VANCOUVER, British Columbia, July 27, 2023 (GLOBE NEWSWIRE) -- A typical Canadian family of four will pay an estimated $16,950 for public health-care insurance this year, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

Key Points: 
  • VANCOUVER, British Columbia, July 27, 2023 (GLOBE NEWSWIRE) -- A typical Canadian family of four will pay an estimated $16,950 for public health-care insurance this year, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
  • The study estimates that a typical Canadian family consisting of two parents and two children with an average household income of $169,296 will pay $16,950 for public health care this year.
  • Single Canadians will pay $5,622 for health care insurance, and single parents with one child will pay $6,294.
  • Since 1997, the first year for which data is available, the cost of healthcare for the average Canadian family has increased substantially, and has risen more quickly than its income.

Fraser Institute News Release: Sweden isn’t socialist, despite what socialist advocates outside the country may claim

Retrieved on: 
Thursday, July 20, 2023
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VANCOUVER, British Columbia, July 20, 2023 (GLOBE NEWSWIRE) -- Despite mischaracterizations by advocates of socialism outside of Sweden, the country is not socialist.

Key Points: 
  • VANCOUVER, British Columbia, July 20, 2023 (GLOBE NEWSWIRE) -- Despite mischaracterizations by advocates of socialism outside of Sweden, the country is not socialist.
  • And in fact, it has a long history of comparatively small government, open markets, and competition.
  • The new book, to be fully released next month, documents Sweden’s history of relying on markets and competition rather than government.
  • And with low taxes, minimal regulation, and free and open trade, it also had the third-freest economy in the world.

Fraser Institute News Release: 58% of Canadians believe personal income tax rates should not exceed 50%

Retrieved on: 
Thursday, July 13, 2023
Bangladesh Technical Education Board, Fair, Public policy, Fraser Institute, Tax

CALGARY, Alberta, July 13, 2023 (GLOBE NEWSWIRE) -- The top combined personal income tax rate in every province (except Alberta and Saskatchewan) currently exceeds 50 per cent—yet the majority of Canadians (58 per cent) believe that personal income tax rates should not exceed 50 per cent, finds new polling data published today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

Key Points: 
  • CALGARY, Alberta, July 13, 2023 (GLOBE NEWSWIRE) -- The top combined personal income tax rate in every province (except Alberta and Saskatchewan) currently exceeds 50 per cent—yet the majority of Canadians (58 per cent) believe that personal income tax rates should not exceed 50 per cent, finds new polling data published today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
  • “Clearly there’s a difference between income tax rates in most provinces and the rate most Canadians believe is appropriate,” said Jake Fuss, director of fiscal studies at the Fraser Institute and coauthor of A Poll of Canadians on the Fair Share of Taxes .
  • “Despite the common refrain from Ottawa and elsewhere that the ‘rich’ don’t pay their fair share, more Canadians oppose tax increases for higher-income families than those who support tax hikes,” Fuss said.
  • For more results from this poll, go to A Poll of Canadians on the Fair Share of Taxes .

Fraser Institute News Release: Canada’s per-person GDP growing at slowest rate since the Great Depression

Retrieved on: 
Tuesday, July 11, 2023
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TORONTO, July 11, 2023 (GLOBE NEWSWIRE) -- Canada’s per-person GDP is growing at its slowest rate since the 1930s and the Great Depression, finds a new study published today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

Key Points: 
  • TORONTO, July 11, 2023 (GLOBE NEWSWIRE) -- Canada’s per-person GDP is growing at its slowest rate since the 1930s and the Great Depression, finds a new study published today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
  • Per-person GDP, the value of goods and services per Canadian, is a common measure of prosperity.
  • From 2013 to 2022, per-person GDP in Canada grew by a dismal 0.8 per cent (after adjusting for inflation).
  • “If policymakers want to increase economic growth and attract investment, they should enact pro-growth polices and encourage entrepreneurship,” Cross said.

Fraser Institute News Release: Lower taxes and balanced budget were possible this year if Ford government had held to Wynne-era spending levels

Retrieved on: 
Wednesday, July 5, 2023
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“On the campaign trail in 2018, now-Premier Ford was critical of the spending of its predecessor.

Key Points: 
  • “On the campaign trail in 2018, now-Premier Ford was critical of the spending of its predecessor.
  • The study analyzes the Ontario government’s recently tabled 2023/23 budget, and finds that per-person spending for the current fiscal year will be $12,405.
  • If the current government had maintained the average spending levels of its predecessor, spending would be $9.5 billion less this year.
  • “The Ford government once talked about the need to rein in spending, balance the budget and provide tax relief, which it could have done in its recent budget,” Eisen said.