The Canadian Taxpayers Federation (CTF) calls on the federal government to provide tax relief and rein in some spending to ease the rising cost of living.
According to a report from Stats Canada, consumer prices increased by 5.1 per cent.
Franco Terrazzano, the federal director of the CTF, said inflation is one of the key economic issues facing Canadians.
“You go to the gas pumps, or you go to the grocery store; you are feeling it there,” he said. “What is so unfortunate is that Prime Minister Justin Trudeau could immediately make life more affordable by providing Canadians with tax relief, but his government is doing the exact opposite.”
“Raising taxes during the middle of the pandemic,” he continued. “Carbon taxes have already gone up twice during the pandemic, they are set to go up again in April, you’ve got booze taxes that have also gone up twice set to go up again for a third during the pandemic in April, and even payroll taxes are going up this year, so if your worker, if you’re making $65,000 or more, you should expect to pay nearly 400 extra.”
Taxes make up 31 to 42 per cent of the price of fuel, depending on the province. The federal carbon tax increased for the third time during the pandemic on April 1 to 11 cents per litre of gas.
Terrazzano said that the federal government had created the perfect storm for inflation.
“The Bank of Canada has printed about $370 billion new dollars during the pandemic, and the more dollars that the central bank prints, the less that the dollars in your bank account buy. But also, we have the federal government raise taxes.”
He said that there are three things Trudeau and his government can do.
“There are three things that we are calling on the federal government to do to provide some relief, number one turn off the printing press, number two reign in the unprecedented amount of government spending, and number three provide Canadians with the much-needed tax relief.”
South Korea, Spain, Italy, France, the United Kingdom, Poland, Sri Lanka, India, New Jersey, and twenty-five Indian states and union territories cut taxes.