OECD economic surveys : Canada 1996-1997 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, issuing body.

Series:

OECD Economic Surveys: Canada

Language:

English

Subjects (All):

Economic history.

Canada--Economic conditions.

Canada.

Canada--Economic policy.

Physical Description:

1 online resource (154 pages)

Edition:

1st ed.

Place of Publication:

Paris, France : OECD Publishing, [1997]

Language Note:

English

Summary:

Assessment and recommendations I. Recent trends and prospects -The current economic cycle in perspective -The recovery is regaining momentum -The short-term outlook -A medium-term scenario II. Macroeconomic management -Fiscal policy -Monetary policy III. Structural policies -Recent progress -Unfinished business IV. The tax system: problems and options for changes -Main features of the system -Concerns with the system -Tax policy issues in a decentralised federation -Reform initiatives and prospects List of acronyms Bibliography Annexes -I. The Canadian tax system -II. Chronology of economic events Statistical annex and structural indicators.

Contents:

Intro

Table of contents

Assessment and recommendations

I. Recent trends and prospects

The current economic cycle in perspective

Figure 1. GROWTH PERFORMANCE OVER THE LONG TERM

Figure 2. DETERMINANTS OF GROWTH

The recovery is regaining momentum

Table 1. Demand and output

Figure 3. CONTRIBUTIONS TO CHANGES IN GDP

Strengthening domestic demand

Figure 4. HOUSEHOLD SAVING RATIO

Figure 5. BUSINESS FIXED INVESTMENT

Narrowing output gap

Still high unemployment

Table 2. Labour supply and demand

Low inflation

Figure 6. INFLATION INDICATORS

Table 3. Wages, prices and profits

Broad external balance

Figure 7. THE CURRENT BALANCE AND ITS MAJOR COMPONENTS

Table 4. Balance of payments

The short-term outlook

Continued robust growth

Table 5. Short-term projections

Risks and uncertainties

A medium-term scenario

Table 6. A medium-term scenario

II. Macroeconomic management

Fiscal policy

Significant progress in budget consolidation

Figure 8. DECOMPOSITION OF THE GENERAL GOVERNMENT FINANCIAL BALANCE

Federal government

Table 7. Federal government deficit: projections and outcomes

Provincial governments

Table 8. Provincial deficits and debt

Outlook and longer-term policy options

Figure 9. GOVERNMENT DEBT

Monetary policy

The framework

Figure 10. INFLATION TARGETS

Recent changes in monetary conditions

Figure 11. MONETARY CONDITIONS

Figure 12. INTEREST RATE AND EXCHANGE RATE DEVELOPMENTS

The challenges ahead

Should the monetary stance be tightened?

Table 9. Money and credit

What inflation target beyond 1998?

Table 10. Inflation targeting regimes in OECD countries

Table 10. Inflation targeting regimes in OECD countries (cont.)

III. Structural policies

Table 11. Summary of major structural reform measures in Canada: 1985-96.

Table 12. Productivity in the business sector

Recent progress

Labour market

Table 13. Phasing-in of Employment Insurance: key dates

Box 1. Labour market support: the case of Newfoundland

Pension reform

Tableau 14. Comparison of existing Canada Pension Plan and proposed changes

Trade liberalisation

Interprovincial trade

Table 15. Agreement on Internal Trade: outstanding issues

Financial markets

Privatisation and public sector reform

Science and technology

Unfinished business

Table 16. Implementing the OECD Jobs Strategy - An overview of progress

IV. The tax system: problems and options for changes

Main features of the system

Figure 13. TAX REVENUE AS A PERCENTAGE OF GDP

Figure 14. TAXES BY TYPE AS A PERCENTAGE OF GDP

Figure 15. TAX REVENUES BY LEVEL OF GOVERNMENT

Table 17. Federal and provincial tax mixes

Table 18. Marginal and average personal income tax rates for a typical single individual

Table 19. Marginal tax rates by income level

Table 20. Federal and provincial top corporate tax rates

Figure 16. TAXES ON PROPERTY AS A PERCENTAGE OF GDP

Concerns with the system

Taxes and international competitiveness

Table 21. Marginal effective tax rates for large firms with domestic investors

Figure 17. INTERSECTORAL MARGINAL EFFECTIVE TAX RATES

Table 22. Average effective tax rates on labour

The tax mix

Table 23. Illustrative real output loss from extra dollar of tax

Taxation of capital income

The redistributive dimension

Figure 18. EXAMPLES OF EFFECTIVE MARGINAL PERSONAL INCOME TAX RATE

Table 24. Average income tax rates by family real income and size

Table 25. Average income tax and transfer rates by quintile

Indexation

Table 26. Impact of partial indexation on the basic federal income tax rate

Tax policy issues in a decentralised federation.

Table 27. Federal transfers as a percentage of provincial revenues

Reform initiatives and prospects

Current policies

The macroeconomic dimension

Scope for further action

Notes

List of acronyms

Bibliography

Annexes

Annexe I. The Canadian tax system

Annexe II. Chronology of economic events

STATISTICAL ANNEX AND STRUCTURAL INDICATORS

Table A. Selected background statistics

Table B. Supply and use of resources

Table B. Supply and use of resources (cont.)

Table C. Industrial production, employment and other business indicators

Table D. Prices, wages and finance

Table E. Balance of payments

Table F. Public sector

Table G. Financial markets

Table H. Labour market indicators

Table I. Production structure and performance indicators

BASIC STATISTICS: INTERNATIONAL COMPARISONS

BASIC STATISTICS: INTERNATIONAL COMPARISONS (cont'd)

MAIN SALES OUTLETS OF OECD PUBLICATIONS / PRINCIPAUX POINTS DE VENTE DES PUBLICATIONS DE L'OCDE

BOX

TABLES

Table 11. Summary of major structural reform measures in Canada: 1985-96

Table 12. Productivity in the business sector

Table 13. Phasing-in of Employment Insurance: key dates.

Table 14. Comparison of existing Canada Pension Plan and proposed changes

Table 27. Federal transfers as a percentage of provincial revenues

FIGURES

Figure 18. EXAMPLES OF EFFECTIVE MARGINAL PERSONAL INCOME TAX RATE.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-14952-X

OCLC:

1226584101