Inequality widens as inflation soars in Trudeau’s Canada
The report stated that around 150 thousand families have an average wealth of six million dollars.
Loading the front page…
The report stated that around 150 thousand families have an average wealth of six million dollars.
A new report by the Parliamentary Budget Office has revealed that 25 percent of Canada's net worth is controlled by a few ultra-rich families, according to Politico.
The report stated that around 150,000 families have an average wealth of $6 million. These families are Canada's one percent, according to the report that was released on Thursday.
Loading this lets Rumble set cookies and collect data.
View on RumbleThe wealth these families possess has steadily increased since 1999. In 2019, for instance, they controlled $3 billion. Close to 2 percent of Canada's wealth is controlled by the bottom 40 percent.
"Families are struggling to afford groceries, rent, and heat for their homes, but the very wealthiest keep getting richer," said NDP leader Jagmeet Singh after this report was published.
"Justin Trudeau pretends to care about inequality," added Singh. "In the midst of a pandemic, he ends [benefits] for 900 thousand people and cuts benefits for seniors and families in need.”
The poorest Canadians have also felt squeezed by inflation. Canada's inflation rate is expected to reach 5 percent.
On top of this, Canadians in a family of four are looking at a hefty increase in food prices for 2022, Canada's Food Price Report said on Thursday.
According to the report, those in a family of four will pay an extra $966 in food in 2022.
Libby’s Desk
Commentary and must-reads from Libby’s desk, straight to your inbox.
TPM Newsletter
The Post Millennial’s top stories, delivered to your inbox.
