Centre For Spatial Economics: Tax Revenue

Robert Fairholm Dept: For the economy as a whole, more people working means you have more income generated and therefore GDP is higher, said Robert Fairholm, director at the Centre for Spatial Economics, activity that should have a positive effect on tax revenue and diminish government expenditures. , according to Globe and Mail. The OAS program is the single, largest program of the government of Canada, the budget declared and it comes as more Canadians are delaying the age of retirement anyway, either staying on the job for longer, or re-entering the work force. Workers aged 55 and over, particularly women, have seen the lion s share of employment gains in the past year. Mr. Flaherty s budget called for increasing the age of eligibility for Old Age Security and the Guaranteed Income Supplement in stages beginning in 2023. As well, more resources will go to training and skills development, while the temporary foreign worker program also changes to better meet the demands of the jobs market. (www.immigrantscanada.com). As reported in the news.