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The government's economic policy relied on increased tax revenues to pay for increased government spending. While the government did not balance the budget in its first term, it purported being fiscally responsible by reducing the country's debt-to-GDP ratio every year until 2020, when the COVID-19 pandemic hit. [1]
By 1886, 38 banks had been chartered. The pace of this financial activity was marked by the newly formed Government of Canada with the passing of the Bank Act in 1871. Insurance companies, including, Sun Life, 1865, Mutual Life, 1870, Confederation Life, 1871 and London Life, 1874, were also founded during these years.
The Canada Pension Plan (CPP; French: Régime de pensions du Canada) is a contributory, earnings-related social insurance program. It is one of the two major components of Canada 's public retirement income system, the other being Old Age Security (OAS). Other parts of Canada's retirement system are private pensions, either employer-sponsored ...
Canada was the third country to design and construct a satellite when in 1962 Alouette 1 was launched. [272] Canada is a participant in the International Space Station (ISS), and is a pioneer in space robotics, having constructed the Canadarm, Canadarm2, Canadarm3 and Dextre robotic manipulators for the ISS and NASA's Space Shuttle. [273]
Canadian public debt, or general government debt, is the liabilities of the government sector. [1]: 23 Government gross debt consists of liabilities that are a financial claim that requires payment of interest and/or principal in future. [2]: 207 They consist mainly of Treasury bonds, but also include public service employee pension liabilities ...
The Liberals are descended from the mid-19th century Reformers who agitated for responsible government throughout British North America.These included George Brown, Robert Baldwin, William Lyon Mackenzie and the Clear Grits in Upper Canada, Joseph Howe in Nova Scotia, and the Patriotes and Rouges in Lower Canada led by figures such as Louis-Joseph Papineau.
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