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| Fiscal Policy |
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| 2007-12 |
Time and Money: The Challenge of Demographic Change and Government Finances in Canada |
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Robson, William B.P. |
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As Canada’s babyboomers move through middle age and closer to
retirement, a long-anticipated transformation of the country’s
demographic structure is accelerating. In several respects, Canadians are unprepared for this change. They are still not ready for the dual challenge of a rapid rise in the share of seniors in the population, and much slower growth of the workforce. Nor are they ready for the eventual fiscal
consequences — a major rise in the share of income Canadians will need to devote to publicly funded programs. Barring some wrenching changes in public finances, this rise will force today’s youngsters to pay higher taxes for their
lifetime package of public programs than their parents and grandparents did. |
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