Mr. Yves Giroux at the Government Operations and Estimates Committee

On October 19th, 2023. See this statement in context.

October 19th, 2023 / 4:55 p.m.

Parliamentary Budget Officer, Office of the Parliamentary Budget Officer

It's difficult to determine which of those factors has the biggest impact, but, in general, GDP growth and productivity growth are the two elements that have the greatest impact on a government's fiscal health—or lack thereof.

Nominal GDP is the tax base. That's what defines it best. Therefore, a rising nominal GDP is generally the best indicator of a government's ability to fund services.

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