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Taxation, Royal Commission on, under Kenneth Carter, appointed (1962) by PM John Diefenbaker to examine and to recommend improvements to the entire federal TAXATION system.

Monetary policy refers to government measures taken to affect financial markets and credit conditions, for the purpose of influencing the behaviour of the economy. In Canada, monetary policy is the responsibility of the Bank of Canada, a federal crown corporation that implements its decisions through manipulation of the money supply.

The relative importance of government expenditures in the Canadian economy has risen dramatically over the past 70 years, from 15% of the Gross Domestic Product (GDP) in the late 1920s to 40% of GDP in 1980 and 50% in the early 1990s.

The Canadian Free Trade Agreement (CFTA) is an inter-governmental trade agreement regulating trade within Canada. It took effect on 1 July 2017. The goal of the agreement was to reduce or eliminate regulations against the free movement of goods, services, and investments within Canada. The officials who framed the new deal said they wanted to ensure that Canadian firms got the same access to the Canadian market as firms from the country’s international trading partners. CFTA also more closely matches the terms of the Canada-European Union Comprehensive Economic Trade Agreement (CETA), which began taking effect in 2017.

Insolvency is a financial state defined by either of two situations. One is when a person, business or country cannot meet their obligations as they become due. The other is when the value of a person’s liabilities exceeds their assets.

Fowler Bauld & Mitchell Ltd. (FBM) is an architectural firm in practice since 1917, making it one of the oldest in Canada.

Capitalism is an economic system in which private owners control a country’s trade and business sector for their personal profit. It contrasts with communism, in which property effectively belongs to the state (see also Marxism). Canada has a “mixed” economy, positioned between these extremes. The three levels of government decide how to allocate much of the country’s wealth through taxing and spending.

Fiscal policy is the use of government taxing and spending powers to manage the behaviour of the economy. Most fiscal policy is a balancing act between taxes, which tend to reduce economic activity, and spending, which tends to increase it — although there is debate among economists about the effectiveness of fiscal measures.

Supply management is a system designed to control the supply — and thereby stabilize the price — of Canadian dairy, chicken, turkey and egg products (see Poultry Farming). It began in 1972 as a response to a series of crises that farmers faced due to decreasing prices for these products.

On 2 July 1992, the federal government banned cod fishing along Canada’s east coast. This moratorium ended nearly five centuries of cod fishing in Newfoundland and Labrador. Cod had played a central role in the province’s economy and culture.

The aim of the policy was to help restore cod stocks that had been depleted due to overfishing. Today, the cod population remains too low to support a full-scale fishery. For this reason, the ban is still largely in place.

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Sustainability is the ability of the biosphere, or of a certain resource or practice, to persist in a state of balance over the long term. The concept of sustainability also includes things humans can do to preserve such a balance. Sustainable development, for instance, pairs such actions with growth. It aims to meet the needs of the present while ensuring that future people will be able to meet their needs.

The financial activities of political parties in Canada were largely unregulated until the Election Expenses Act was passed in 1974. Canada now has an extensive regime regulating federal political party financing; both during and outside of election periods. Such regulation encourages greater transparency of political party activities. It also ensures a fair electoral arena that limits the advantages of those with more money. Political parties and candidates are funded both privately and publicly. Election finance laws govern how parties and candidates are funded; as well as the ways in which they can spend money. (See also Canadian Electoral System.)

Canada’s current and future prosperity depends on recruiting immigrants. Newcomers fill gaps in the Canadian workforce, build or start businesses and invest in the Canadian economy. Economic immigrants include employees as well as employers. They mostly become permanent residents when they immigrate to Canada. Not included in this class are the many temporary foreign workers who contribute to Canada’s economy.

Economic immigrants bring talent, innovation, family members and financial investments to Canada. They also enrich the country’s culture, heritage and opportunities. Technological progress, productivity and economic growth all benefit from these newcomers. Studies show that they have little to no negative impacts on wages for other workers in the country.

The 2016 Census identifies 2,994,130 economic immigrants in Canada. This represents about half of the total of 5,703,615 immigrants counted in that survey. (See also Immigration to Canada.)

During the Great Depression, the federal government sanctioned the creation of a system of unemployment relief camps, where in exchange for room-and-board, single men did physically demanding labour. The government was criticized for establishing the camps rather than addressing the need for reasonable work and wages.