Half of Canadians say their finances are worse than last year: poll

It seems many Canadians have a case of “the bank account blues,” with a brand new ballot indicating many have a bleak outlook on their funds.

The newest survey from the Angus Reid Institute exhibits 47 per cent of Canadians consider their monetary standing is worse off now than it was on the identical level final yr. Fifteen per cent of respondents mentioned their funds improved, whereas 36 per cent mentioned theirs stayed the identical.

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Looking forward, individuals don’t look like too optimistic about their funds bettering. Over two-thirds (69 per cent) of individuals polled count on their state of affairs to both keep the identical or worsen, whereas simply over a fifth (22 per cent) anticipate enhancements.

People in Saskatchewan and New Brunswick look like probably the most pessimistic about their financial institution accounts. The two provinces had the best proportion of people that claimed their funds have deteriorated over the previous yr (55 per cent and 56 per cent, respectively). They additionally had the most individuals who believed issues wouldn’t enhance over the following yr.

The largest cause for these sentiments, the ballot discovered, is inflation. It was recognized by 69 per cent of respondents as the driving force behind their dire monetary straits. Further, it’s named as the largest difficulty regarding Canadians,  forward of different subjects like healthcare and the atmosphere.

These findings come simply over every week earlier than the federal price range is introduced. Finance Minister and Deputy Prime Minister Chrystia Freeland has indicated she is dedicated to fiscal restraint so the federal government doesn’t undo any inflation-tackling measures put in place by the Bank of Canada.

The price range might be tabled on March 28.

–With recordsdata from The Canadian Press

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