Ottawa — A growing number of Canadians say they are financially stretched and frustrated with the tax burden imposed by federal policy.
A new poll shows 70% of Canadians believe high taxes are negatively affecting their cost of living, pointing to a widening gap between government spending and taxpayer priorities.
The data reveals broad concern over a proposed federal sovereign wealth fund, officially termed the “Canada Strong Fund,” which would launch with a $25-billion endowment managed by an arms-length Crown corporation.
Critics note the plan differs sharply from models like Norway’s, as it would be financed through borrowing rather than budget surpluses and is designed to subsidize domestic projects rather than maximize returns.
Alberta has operated its own $30-billion sovereign wealth fund for over five decades, built from oil and gas revenues under former premier Peter Lougheed’s leadership.
In contrast, 58% of respondents oppose the federal government borrowing $25 billion to create the new fund, while only 20% view the proposal favourably.
The poll also found 63% of Canadians believe they pay too much income tax, and 66% say government-funded subsidies fail to deliver value for money.
A separate study indicates Ontario’s corporate subsidy spending has surged 209% over the past decade, far outpacing Quebec.
Respondents pointed to high-profile failures such as a cancelled battery plant project in Quebec and stalled electric vehicle initiatives in southwestern Ontario as evidence of wasteful industrial policy.
The findings suggest sustained public resistance to new federal borrowing and subsidy programs amid persistent cost-of-living pressures.
