Friday, March 15, 2013
Conference Board of Canada Grades Canada’s Inequality
By BEIF Team
The Conference Board of Canada (CBoC) has recently released it’s annual ‘report card’ on Canadian’s quality of life. The report ranks Canada 7th out of 17 other developed countries and gives Canada an overall ‘B’ rating in its ‘Society Report Card’. The CBoC states that the rating is due to Canada’s “high rates of poverty and a large gap in income between the rich and everyone else”, which “put stress on a society and on the economy.”
On the specific issue of income inequality Canada received a ‘C’ rating and was ranked 12th out of 17 other countries. Besides grading countries, the report highlights how inequality has been rising in Canada for the past 20 years. It shows that the richest quintile (top 20%) in Canada receives 39.1% of the total national income, while the poorest quintile (bottom 20%) takes home only 7.3% of total national income.
Source: Conference Board of Canada, How Canada Performs