Most Canadians believe they pay too much income tax, think governments are spending excessively and oppose borrowing $25 billion to establish a federal sovereign wealth fund, according to a new poll released by the Montreal Economic Institute.
The survey, conducted online by Ipsos for the MEI, also found that two-thirds of respondents believe corporate subsidies are not worth the cost, reflecting broader concerns about government spending and taxation.
The poll suggests a majority of Canadians believe current tax levels and government spending are out of balance with the value they receive from public services. It found that 63 per cent of respondents said they pay too much income tax, while 70 per cent said their tax burden reduces their standard of living.
The survey also found that 52 per cent believe the federal government spends too much, compared with five per cent who said it does not spend enough.
“Canadians are sending the message that they’ve had enough of paying more to receive less,” says Renaud Brossard, Vice President of Communications at the MEI. “As grocery and housing prices keep climbing higher and higher, taxpayers are fed up with seeing their governments spending so recklessly.”
When respondents were asked whether they receive good value for the taxes they pay, no level of government earned majority approval. Provincial governments received the lowest assessment, with 56 per cent of respondents saying they do not get their money's worth.
The poll also found that 66 per cent of Canadians believe corporate subsidies are expensive and produce poor results. In Quebec, that figure rose to 69 per cent.
The release said the findings come as governments continue to invest in subsidized industrial projects. It also noted that, according to the MEI, the Quebec and Ontario governments paid out $8.5 billion and $11.6 billion respectively in corporate subsidies during 2024.
“Canadians do not share the enthusiasm of their politicians when it comes to subsidies,” adds Brossard. “They say—with good reason—that subsidies are much too expensive and yield very little in terms of results.”
The survey also examined public opinion on the federal government's proposed sovereign wealth fund, announced in April.
According to the poll, 58 per cent of respondents opposed borrowing $25 billion to finance the fund, while 20 per cent supported the proposal.
The release noted that the federal government is projecting a deficit of $65.4 billion for the current fiscal year.
“People understand that with a federal budget in deficit, each dollar put into this fund is a dollar more of debt,” concludes Brossard. “Canadians don’t want more subsidies and they don’t want more spending; what they want is a government that respects their ability to pay.”
The Ipsos online survey polled 1,005 Canadians aged 18 and older between June 26 and July 1. The release said the results are accurate within plus or minus 3.8 percentage points, 19 times out of 20.