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A massive shift is underway in the Atlantic region. As a business owner in Atlantic Canada, you will be affected by the changes that are coming. Your already high tax load could increase if governments don’t make changes now.
Over the next few years, baby boomers will transition away from the workforce. Other population trends in the Atlantic region such as low birth rates, low immigration retention, and high out-migration will contribute to the declining tax base.
At the same time, the demand for services such as health care will increase. How will governments pay for services without an adequate tax base to pay for them? Could a tax increase be on the horizon?
In a new series of CFIB research reports focused on the challenges faced by Atlantic Canada, we are recommending governments get prepared for the challenges brought on by population changes.
In the first report, Winter is Coming – Why Atlantic Canada’s aging population should scare governments (and the people who pay for them), we are issuing Atlantic governments a stern warning to start preparing for what’s ahead.