Business
Lower taxes will help increase living standards for Canadian families

From the Fraser Institute
By Jake Fuss and Grady Munro
According to a new poll from RBC, nearly half (48 per cent) of Canadians can’t maintain their standard of living due to rising costs. These polling results should come as no surprise; recent research has shown that Canadian living standards are in a historic decline.
Governments across the country should take note, and immediately cut the largest expense for families—taxes.
Consider this. Gross domestic product (GDP) is the value of all goods and services produced in the economy, and is the most widely used measure of economic prosperity. And by measuring GDP on a per-person basis (and adjusting for inflation), we can track how living standards of Canadians change over time.
According to the latest data from Statistics Canada, as of September 2024, GDP per person was $58,601 compared to $59,905 in June 2019 (after adjusting for inflation). And since the fourth quarter of 2022, living standards have fallen in seven of the last eight quarters.
The driving factor behind this decline in living standards is Canada’s sluggish economic growth in recent years. Moreover, as highlighted in the poll, inflation over the last several years has left Canadians weary and struggling to cope with the elevated cost of necessities such as food and housing.
Again, if governments want to help improve living standards, they should reduce taxes and leave more money in the pockets of Canadian families.
In 2023 (the latest year of comparable data), the average Canadian family spent a larger share of its income on taxes (43.0 per cent) than on food, shelter and clothing combined (35.6 per cent). In other words, taxes are the largest single expense for Canadian families, and governments have the power to lower this expense to help families make ends meet.
Tax reductions would also benefit the overall economy and increase opportunities for workers. Across a variety of income levels ranging from $50,000 to $300,000 a year, Canadians in nearly every province face a higher combined (federal and provincial/state) personal income tax rate than Americans in virtually every U.S. state.
Of course, jurisdictions compete to attract and retain high-skilled workers such as doctors, engineers and entrepreneurs because these individuals contribute greatly to overall economic growth. By maintaining higher tax rates than U.S. states, provinces remain at a competitive disadvantage in attracting these workers. Lowering both federal and provincial income tax rates would improve Canada’s competitiveness and help increase economic growth.
A stagnant economy and rising cost of living are reducing living standards while stretching the finances of Canadian families. This budget season, governments from coast to coast should lower taxes to improve the economy and put more money back in the pockets of hard-working Canadians.
Alberta
Big win for Alberta and Canada: Statement from Premier Smith

Premier Danielle Smith issued the following statement on the April 2, 2025 U.S. tariff announcement:
“Today was an important win for Canada and Alberta, as it appears the United States has decided to uphold the majority of the free trade agreement (CUSMA) between our two nations. It also appears this will continue to be the case until after the Canadian federal election has concluded and the newly elected Canadian government is able to renegotiate CUSMA with the U.S. administration.
“This is precisely what I have been advocating for from the U.S. administration for months.
“It means that the majority of goods sold into the United States from Canada will have no tariffs applied to them, including zero per cent tariffs on energy, minerals, agricultural products, uranium, seafood, potash and host of other Canadian goods.
“There is still work to be done, of course. Unfortunately, tariffs previously announced by the United States on Canadian automobiles, steel and aluminum have not been removed. The efforts of premiers and the federal government should therefore shift towards removing or significantly reducing these remaining tariffs as we go forward and ensuring affected workers across Canada are generously supported until the situation is resolved.
“I again call on all involved in our national advocacy efforts to focus on diplomacy and persuasion while avoiding unnecessary escalation. Clearly, this strategy has been the most effective to this point.
“As it appears the worst of this tariff dispute is behind us (though there is still work to be done), it is my sincere hope that we, as Canadians, can abandon the disastrous policies that have made Canada vulnerable to and overly dependent on the United States, fast-track national resource corridors, get out of the way of provincial resource development and turn our country into an independent economic juggernaut and energy superpower.”
Business
Canada may escape the worst as Trump declares America’s economic independence with Liberation Day tariffs

MxM News
Quick Hit:
On Wednesday, President Trump declared a national emergency to implement a sweeping 10% baseline tariff on all imported goods, calling it a “Declaration of Economic Independence.” Trump said the tariffs would revitalize the domestic economy, declaring that, “April 2, 2025, will forever be remembered as the day American industry was reborn.”
Key Details:
-
The baseline 10% tariff will take effect Saturday, while targeted “reciprocal” tariffs—20% on the EU, 24% on Japan, and 17% on Israel—begin April 9th. Trump also imposed 25% tariffs on most Canadian and Mexican goods, as well as on all foreign-made cars and auto parts, effective early Thursday.
-
Trump justified the policy by citing foreign trade restrictions and long-standing deficits. He pointed to policies in Australia, the EU, Japan, and South Korea as examples of protectionist barriers that unfairly harm American workers and industries.
-
The White House estimates the 10% tariff could generate $200 billion in revenue over the next decade. Officials say the added funds would help reduce the federal deficit while giving the U.S. stronger leverage in negotiations with countries running large trade surpluses.
Diving Deeper:
President Trump on Wednesday unveiled a broad new tariff policy affecting every imported product into the United States, marking what he described as the beginning of a new economic era. Declaring a national emergency from the White House Rose Garden, the president announced a new 10% baseline tariff on all imports, alongside steeper country-specific tariffs targeting longstanding trade imbalances.
“This is our Declaration of Economic Independence,” Trump said. “Factories will come roaring back into our country — and you see it happening already.”
The tariffs, which take effect Saturday, represent a substantial increase from the pre-Trump average U.S. tariff rate and are part of what the administration is calling “Liberation Day” for American industry. Reciprocal tariffs kick in April 9th, with the administration detailing specific rates—20% for the European Union, 24% for Japan, and 17% for Israel—based on calculations tied to bilateral trade deficits.
“From 1789 to 1913, we were a tariff-backed nation,” Trump said. “The United States was proportionately the wealthiest it has ever been.” He criticized the establishment of the income tax in 1913 and blamed the 1929 economic collapse on a departure from tariff-based policies.
To underscore the move’s long-anticipated nature, Trump noted he had been warning about unfair trade for decades. “If you look at my old speeches, where I was young and very handsome… I’d be talking about how we were being ripped off by these countries,” he quipped.
The president also used the moment to renew his push for broader economic reforms, urging Congress to eliminate federal taxes on tips, overtime pay, and Social Security benefits. He also proposed allowing Americans to write off interest on domestic auto loans.
Critics of the plan warned it could raise prices for consumers, noting inflation has already risen 22% under the Biden administration. However, Trump pointed to low inflation during his first term—when he imposed more targeted tariffs—as proof his strategy can work without sparking runaway costs.
White House officials reportedly described the new baseline rate as a guardrail against countries attempting to game the system. One official explained the methodology behind the reciprocal tariffs: “The trade deficit that we have with any given country is the sum of all trade practices, the sum of all cheating,” adding that the tariffs are “half of what they could be” because “the president is lenient and he wants to be kind to the world.”
In addition to Wednesday’s sweeping changes, Trump’s administration recently imposed a 25% tariff on Chinese goods tied to fentanyl smuggling and another 25% on steel and aluminum imports—revoking previous carve-outs for countries like Brazil and South Korea. Future tariffs on semiconductors, pharmaceuticals, and raw materials such as copper and lumber are reportedly under consideration.
Trump closed his remarks with a message to foreign leaders: “To all of the foreign presidents, prime ministers, kings, queens, ambassadors… I say, ‘Terminate your own tariffs, drop your barriers.’” He declared April 2nd “the day America’s destiny was reclaimed” and promised, “This will indeed be the golden age of America.”
-
Daily Caller2 days ago
Biden Administration Was Secretly More Involved In Ukraine Than It Let On, Investigation Reveals
-
Business2 days ago
Trump says ‘nicer,’ ‘kinder’ tariffs will generate federal revenue
-
2025 Federal Election2 days ago
PM Carney’s Candidate Paul Chiang Steps Down After RCMP Confirms Probe Into “Bounty” Comments
-
2025 Federal Election2 days ago
Poilievre, Conservatives receive election endorsement from large Canadian trade union
-
Business2 days ago
Biden’s Greenhouse Gas ‘Greendoggle’ Slush Fund Is Unraveling
-
2025 Federal Election2 days ago
Liberal MP Paul Chiang Resigns Without Naming the Real Threat—The CCP
-
2025 Federal Election5 hours ago
WEF video shows Mark Carney pushing financial ‘revolution’ based on ‘net zero’ goals
-
2025 Federal Election2 days ago
Fight against carbon taxes not over yet