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Canada's richest 87 families have same wealth as 12 million people, report says
Report by Canadian Centre for Policy Alternatives found the net worth of the richest was 4,448 times the average Canadian in 2016
Ashifa Kassam in Toronto
@ashifa_k
Tue 31 Jul 2018 13.50 EDT
Canada’s richest 87 families have roughly the same amount of wealth as that held by 12 million of their compatriots, or about a third of the country’s population, according to a new report.
The report, published on Tuesday by the left-leaning Canadian Centre for Policy Alternatives, found that in 2016 the net worth of the richest was 4,448 times that of the average Canadian.
The collective net worth of the country’s richest families is just shy of what is owned by everyone in the east coast provinces of Newfoundland and Labrador, New Brunswick, and Prince Edward Island, the report found.
“Canada’s dynastic families have got it all – more wealth, more inheritance, and are as lightly taxed as they were the last time we looked in 2014,” the author of the report, economist David Macdonald, said in a statement.
More:
https://www.theguardian.com/world/2018/jul/31/canada-richest-families-same-wealth-12-million-people-report