News for residents of the “11th province”: Canadians abroad.
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Debt Costs to Claim a 25% of Income Tax Revenue
By 2024/25, nearly a quarter of Canada's personal income tax revenue will be consumed by interest payments on federal debt, a big shift from previous trends where interest costs were declining. This rise is being blamed on substantial debt accumulation under the Trudeau government and recent interest rate increases. As the government reveals the budget, its challenge lies in managing debt without compromising public services.
Read more: Fraser Institute
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Survey Shows Rise in Concern On Fed Spending
A recent survey by the Angus Reid Institute shows that 59% of Canadians believe the federal government is overspending. Despite this, there is strong support for increased investment in health care, national defense, and infrastructure. The survey also raised concerns about the federal deficit, with political affiliations deeply influencing perceptions of the government’s fiscal management.
Read more: CTV News
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