“The PBO report shows that we have, at bare minimum, $1.6 trillion dollars leaving the country each year, and that we may be losing $40 billion dollars in tax revenue annually,� said Dusseault. “In four years, the government has not implemented any meaningful measures to stop this, or even to better understand the flow of money. An NDP government will crack down on the abusive transactions used by the wealthy to hide their money in shell companies overseas.�
Earlier this week, the CRA reported that corporations likely avoided paying $11.4 billion in taxes in 2014. The PBO report shows a more serious picture that includes massive sums of corporate money flowing to small countries known for being tax havens, including $47.6 billion transferred from Canada to the small European country of Luxembourg in 2016. The report also shows that in 2018, Canadian corporations transferred $157.7 billion to Singapore, while Singapore only transferred $35.9 billion to Canada.
“The Parliamentary Budget Officer has shown that the $11.4 billion reported by the CRA is very likely only the tip of the iceberg. The difference between what our tax revenue is, and what it could be, is called the ‘tax gap’. The PBO report shows we don’t have a tax gap, we have a tax chasm,� said Julian. “Child care, affordable housing, renewable energy…It’s staggering what we could fund if this Liberal government was taking this issue seriously. We must create a publicly-accessible registry of ownership information for federally incorporated corporations and shine a light on the tax evasion we know is taking place.�
– 30 –
For more information, please contact:
NDP Media Centre: 613-222-2351 or [email protected]
NDP Critic for Canadian Heritage Peter Julian issued the following statement:
"It has come to our attention that a consultant for a federally funded anti-racism project has a disturbing track record of spewing hate speech online against Jewish and francophone communities. This is completely unacceptable. We call on the Minister of Heritage to take drastic action and terminate his contract.
NDP Heritage Critic Peter Julian issued the following statement:
“Today’s announcement by Hockey Canada is another attempt to delay the important and urgent work to deal with the toxic culture in this organization. While a former Supreme Court Justice is a credible appointment to conduct the review into Hockey Canada, this won’t be the first time the organization undergoes this process.
NDP critic for Canadian Heritage, Peter Julian, made the following statement:
“Canadians are horrified by the incidents of sexual assault and by what they’re hearing from Hockey Canada. They are left with many questions about how this toxic culture is allowed to persist in our sports organizations and what the government is actually doing to ensure this doesn’t happen again.