coins-dolmansaxlil-byncsa2.0thumb-1.jpg
coins-dolmansaxlil-byncsa2.0thumb-1.jpg This article is more than 6 years old

OECD’s dire warning for Canada: income inequality will get a lot worse

The Organisation for Economic Co-operation and Development has some bad news for Canada: income inequality has been on the rise since the mid-1980s and is projected to get a lot worse over the next 50 years. The OECD’s outlook is part of its new predictions for the world economy until 2060. “These are that growth will slow […]

The Organisation for Economic Co-operation and Development has some bad news for Canada: income inequality has been on the rise since the mid-1980s and is projected to get a lot worse over the next 50 years.

The OECD’s outlook is part of its new predictions for the world economy until 2060.

“These are that growth will slow to around two-thirds its current rate; that inequality will increase massively; and that there is a big risk that climate change will make things worse,” writes Paul Mason, an economics editor in England, summing up the overall predictions of the Paris-based think tank representing the world’s most advanced countries.

Canada isn’t sitting so pretty in this scenario.

1. The OECD report says income inequality increased in Canada from the mid-1980s to the late 2000s under successive Liberal and Conservative governments:

Figure 4

 

2. OECD projects gross earnings inequality in Canada will worsen between 2010 and 2060, placing Canada behind only the United States and Hungary among 21 charted OECD countries:

Chart B

 

3. OECD says a decrease in earnings inequality can occur in Canada through 2060 if employment protection, union coverage, tax wedges and product market regulation coverage are enhanced:

Figure 17

Photo: dolmansaxlil. Used under a Creative Commons BY-NC-SA 2.0 licence.

Help us protect Canadians by holding the powerful accountable.

Journalism is an important public service. That’s why PressProgress is prioritizing stories aimed at keeping Canadians safe and holding the powerful accountable during the coronavirus pandemic.

Please consider supporting our award-winning non-profit news organization so we can keep making a positive impact for Canadians.

 

Support Our Journalism
PressProgress
PressProgress is an award-winning non-profit news organization focused on uncovering and unpacking the news through original investigative and explanatory journalism.

Most Shared

thumb-2021-04-013 News

Jason Kenney’s New Education Curriculum Appears to Have Copy-Pasted Lines From Wikipedia

Related Stories

News

Liberal MP Sponsors Petition Calling For Criticism of Police to be Classified as a Form of Hate Speech

View the post
News

Peel Region Schools Called-In Substitute Teachers to Replace Teachers in Classes With COVID-19 Cases

View the post
News

Conservative MP Says Anti-Abortion Activists Helped Develop New Private Members’ Bill

View the post

Explainers

Human rights & inclusion

Amira Elghawaby

Canada is Bringing in New Legislation to Stop the Spread of Online Hate. Here’s How It Can Work.

View the post
Politics & strategy

Tom Parkin

Why is Erin O’Toole Pitching Conservatism to Working Class Voters?

View the post
Power and democracy

Andrea Reimer

Here’s How Canadians Can Keep Big Money Out of Politics

View the post