Budget office sheds fresh light on public debt and private wealth | Starr’s Point
A second PBO report was even more enlightening, providing at least a
partial answer to the question of how to pay not only for
COVID-19-related assistance but also for mending holes in the social
safety net exposed by the pandemic. The report, Estimating the Top Tail (sic) of the Family Wealth Distribution in Canada,
calculated that the top one per cent of Canadian families hold almost
twice as much wealth as was previously believed. “Let the rich pay”
should soon ring out across the land.
partial answer to the question of how to pay not only for
COVID-19-related assistance but also for mending holes in the social
safety net exposed by the pandemic. The report, Estimating the Top Tail (sic) of the Family Wealth Distribution in Canada,
calculated that the top one per cent of Canadian families hold almost
twice as much wealth as was previously believed. “Let the rich pay”
should soon ring out across the land.
Looking first at the pandemic scenario analysis, it is the fourth
completed by PBO since COVID-19 and the steep drop in oil prices shook
up government budgets. In spite of an additional $24.5 billion in new
spending announced since the April 30 analysis, the projected deficit is
less than four billion higher.