Executive Summary – Distribution of Federal Revenues and Expenditures by Province

(Disponible en français : Résumé – La répartition des revenus et des dépenses du gouvernement fédéral par province) The federal government collects revenues and makes expenditures in all provinces. Per capita federal revenues and spending vary from province to province, depending on the economic and demographic conditions in each province. Sources of federal revenues include personal…

The Shape of Things to Come

2 July 2020, 8:30 a.m. (Disponible en français : La forme que prendront les choses à l’avenir) The COVID-19 pandemic has caused a rapid global economic contraction. Many forecasters are predicting an economic downturn not seen since the Great Depression. In Canada, as in other countries, protective measures such as lockdowns to contain the spread…

The Canadian Economy in Turbulent Times

Revised on 28 July 2020, 8:35 a.m. (Disponible en français : L’économie canadienne dans la tourmente) Over its history, Canada’s economy has been affected by major international and domestic events such as financial crises, pandemics, international conflicts and environmental incidents. For example, in 1907 a credit crisis began in the United States, spread to Canada…

Some Federal and Provincial/Territorial Financial Relief Measures Relating to COVID-19

Revised on 3 June 2020, 8:10 a.m. (Disponible en français : Quelques mesures de soutien financier des gouvernements fédéral, provinciaux et territoriaux concernant la COVID-19) The outbreak of the novel coronavirus (COVID-19) is causing financial strain across Canada. This HillNote provides an overview of some measures by federal, provincial and territorial governments to address the…

Biannual Update on The Canadian Economy: Third and Fourth Quarters of 2019

(Disponible en français : Bilan semestriel de l’économie canadienne : les troisième et quatrième trimestres de 2019) This HillNote presents selected indicators in relation to the Canadian economy, and highlights key trends covering the third and fourth quarters of 2019. Over that period, Canadian real gross domestic product (GDP) continued to grow, but at a lower rate…

Executive Summary – How Do Digital Multinationals Legally Avoid Tax in Canada?

(Disponible en français : Résumé – Comment les multinationales du numérique échappent-elles légalement à l’impôt au Canada?) According to the Organisation for Economic Co-operation and Development (OECD), multinational enterprises are using increasingly aggressive practices to reduce the amount of tax they have to pay, and some of them are creating off-shore subsidiaries or shell companies.…