With revenues pouring into federal and provincial coffers, it’s time for Canadians to tell their governments they’ve had enough with high taxes. With so much meddling in the economy, inefficient governments can’t even deliver good service with the money they have on hand. Medical wait times are longer than ever. Math and literacy scores are falling. Protected businesses are subsidized rather than pushed by competition to innovate. Even (Dis-)Service Canada can’t provide passports on time for travelling Canadians.
Lower taxes and less reliance on inefficient government are a good place to start. Based on recent federal and provincial budgets, the April IMF Fiscal Monitor forecasts that Canadian governments will collect 41.2 per cent of GDP in taxes and non-tax revenues in 2022. If governments were just a tad smaller at 38.5 per cent of GDP (where they were in 2015), we could be paying $70 billion less in taxes. That is $2000 per person or, for a family of four, $8000. That could be a reasonable objective.
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