TORONTO (Reuters) – Canada on Tuesday revealed a new tax on wealthy individuals that will bring in billions of dollars over the next five years to help fund housing programs designed to win over a disgruntled voter base.
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JIMMY JEAN, CHIEF ECONOMIST AT DESJARDINS GROUP
“We see meaningful risks that fiscal anchors end up being breached … We believe that lots of the bottom-line improvement being promised hinges on assumptions we consider to be optimistic on nominal GDP and new tax receipts. Similarly, the recently promised spending on housing-related infrastructure is only partly booked.”
(Reporting by Fergal Smith; Editing by by Denny Thomas)
