Pillar One will ensure that the largest and most profitable global corporations, including large digital corporations, pay their fair share of tax in the jurisdictions where their users and customers are located. Pillar One (Reallocation of Taxing Rights) This is about putting Canadian workers and businesses on a level playing field with our global competitors.Ĭanada continues to strongly support the two-pillar international tax reform plan agreed by 138 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting. International Tax Reform View the impact assessmentĬanada is committed to ending the corporate tax race to the bottom and ensuring that multinational corporations pay their fair share of tax wherever they do business. Moving forward, Budget 2023 will continue these efforts to bring the pace and scale of the growth of government spending back to a pre-pandemic path, in order to ensure that Canadians' tax dollars are being used efficiently and being invested in the priorities that matter most to them.įurther savings in Budget 2023 will meet the commitments laid out in last year's Budget-and will help pay for the strengthening of Canada's public health care system, the delivery of the Canadian Dental Care Plan, and the building of Canada's clean economy.

In the 2022 Fall Economic Statement, the government delivered on this commitment with reduced spending of $3.8 billion, owing to lower-than-expected need for COVID-19 supports in 2021-22. Ensuring the federal government can continue to invest in Canadians for years to come is essential.Īfter two years of emergency pandemic spending, the government committed in Budget 2022 to begin normalizing the overall level of program spending, and announced that the government would examine previous spending plans with a view to reducing COVID-19-related spending by up to $3 billion over four years.

These investments have lifted millions of Canadians out of poverty, built more vibrant communities across the country, grown our economy, and helped weather a once-in-a-century pandemic.

Refocusing Government Spending to Deliver for Canadians View the impact assessmentįrom the creation of the Canada Child Benefit, to infrastructure investments in our communities, to supporting Canadians through the pandemic, the federal government has proudly invested in Canadians and the Canadian economy since 2015.

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