Later this week, newscasts will be carrying stories of how premiers are meeting in Halifax to discuss finances. It’s an important topic. Provinces deliver healthcare, education and other programs that affect the day-to-day lives of Canadians.
C4TF will be in Halifax to join Nova Scotia for Tax Fairness to call attention to the impact that tax havens are having on provincial budgets. It is a conversation that no one seems to be talking about.
Here’s an example.
In 2011, $130 billion dollars were sent offshore to the top five tax haven destinations for Canadian money. That’s billions of tax dollars that the Canada Revenue Agency let slip away. Provinces receive about 46 per cent of the money collected by the CRA in taxes. Even the most modest calculations illustrate that governments are making a billion dollar mistake by ignoring this.
We’ll keep you posted.