| Popis: |
This report presents long-term fiscal and economic projections for Canada, the provinces and the territories for the 2014-2038 period, and discusses their implications for budgetary balance at the provincial/territorial level. In particular, it examines whether economic growth and hence revenue growth (assuming no major changes in tax policy) will be sufficient to fund likely spending pressures. Economic growth is generally projected to be slower over the next 24 years than since 2000. As a result, all, or almost all, provinces and territories, depending upon the economic assumptions, will not be able to meet the test of balancing revenue growth with growth in public spending. Hence, without tax rate increases or action to curtail spending growth, there will be pressure for progressively larger deficits. |
