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Tourism in crisis, business collapses for companies but the federal government doesn’t care

by Marzio Pelù

TORONTO – Tourism to Canada is in crisis: this was declared by the head of the Tourism Industry Association of Canada, according to which – as reported by Global News – companies in the sector are struggling to stay afloat and not drown in a sea of ​​debt caused by the shortage of foreign visitors. A concern confirmed by a survey conducted between April and May by Nanos – online, on a sample of 149 accountants of tourism companies – according to which about 45% of operators could close within three years, unless the government intervenes to adjust the terms of the loans. 

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$15 billion given away to those not eligible, but CRA doesn’t care

by Marzio Pelù

TORONTO – Canada Revenue Agency calls you if $10 is “missing” (and if you don’t pay immediately, interest will kick in) but doesn’t think it’s worth recovering $15 billion. Incredible but true, so much so that even the “watchdog” of Canadian finances, Parliamentary Budget Officer Yves Giroux, said he was bewildered to hear the head of the CRA say that it was not “worth” recovering all that money, i.e. the $15.5 billion in potential Covid-19 wage subsidy overpayments. In other words, money ended up in the pockets of those who had no right to receive it.  (more…)

2068, 57 million of inhabitants in Canada: a big problem for pensions, health care and houses

by Marzio Pelù

TORONTO – More than 56 million inhabitants or, perhaps, even 74. In 2068, the Canadian population could reach these figures according to a report by Statistics Canada published on Monday, which also highlights how this phenomenon (due to the aging of population – thanks to the increase in life expectancy – and to strong immigration) will have large – and negative – dimensions for pensions, health care and housing needs.  (more…)

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