From 2008 to 2023, Canada’s real Gross National Income (GNI), a measure of the income available to Canadians after accounting for income flowing to foreign investors and adjusting for inflation, grew much more slowly than the OECD and G7 averages. Over the past decade, Canada ranked last in the G7 and 32nd out of 35 OECD countries in the dataset. This marks a sharp reversal from Canada’s performance over the previous 25 years and signals weaker purchasing power and slower improvements in Canadians’ standard of living. Reversing this weak growth performance will require major reforms to Canada’s tax system.
Learn more about Canada’s necessary Big Bang Tax Reform here.
Source: World Bank, World Development Indicators, Gross National Income per capita, PPP (constant 2021 international $)
