Canadians can expect to pay more taxes in 2026: Franco Terrazzano
Taxes will continue trending upward in 2026 cautions the Canadian Taxpayers Federation, as Prime Minister Carney's government is poised to increase payroll, alcohol and the industrial carbon taxes this year.
If there's one New Year's resolution Canadians could benefit from in 2026, it's a lowering of the massive tax burden citizens hand over to the government. A new release from the Canadian Taxpayers Federation is calling on Prime Minister Carney to do just that — give Canadians a break where they're being hurt the hardest, in their bank account.
“Canadians are already overtaxed and need serious tax cuts to make life more affordable and make our economy more competitive. But at best, the New Year will bring a mixed bag for Canadian taxpayers,” wrote Franco Terrazzano, federal director of the taxpayer advocacy group.
Franco joined Thursday night's episode of The Ezra Levant Show to discuss why he's “a little optimistic,” though certainly not naive, what may come as another year begins.
Canadians are already “way overtaxed,” he told Ezra, and that's not even factoring in how Canada's massive debt burdens taxpayers with interest payments of “more than a billion dollars every single week.”
Franco offered this advice to consumers: “next time you're standing there in that checkout line,” consider how “every single dollar you're paying in federal sales tax is now going to pay interest on the debt.”
Greater than 40% of an average family's budget is being siphoned to funding all levels of government, he explained. “Their biggest expense is not the house they live in. It's not the food they eat or the clothes they buy. It's the taxes they pay.”
Despite removing the consumer carbon tax in 2025, the Carney Liberals remain set on imposing an industrial carbon tax, something the taxpayer watchdog described as “an economic sucker punch to Canada's economy,” right as the U.S. appears poised to gain increased leverage in trade talks with Canada following a daring raid to capture Venezuela's authoritarian leader that could see an end to American embargoes on the country's oil.
But some, even among Conservative circles, defend Carney's stewardship of the economy, Ezra said, pointing to his tenure as Bank of Canada governor during Stephen Harper's time a prime minister and his modest tax cuts. “I don't buy it,” Ezra contended, asking Franco what advice he'd offer those individuals.
“What's fiscally conservative about borrowing $80 billion in one year? What's fiscally conservative about planning to borrow more money than Trudeau even planned?” he replied.
“If you're going to tell me that somebody's more fiscally responsible than Trudeau, I'm going to be like, well, you just put the bar on the floor,” Franco said, suggesting being more competent Trudeau in monetary policy is the bare minimum, though Carney has still spent more than the former Liberal leader.
BECOME A MEMBER
RebelNews+ Clips
RebelNews+ is our premium subscription service, which gives you access to our exclusive long form, TV-style shows, documentaries, members-only comments section, and the ability to read RebelNews.com without ads.
Subscribe now to get the full experience!
https://rebelnewsplus.com/Featured Stories
COMMENTS
-
Bernhard Jatzeck commented 2026-01-10 00:03:22 -0500That’s hardly news. In fact, it’s a foregone conclusion. Wake me if the government decides to reduce taxes. -
Bruce Atchison commented 2026-01-09 19:40:21 -0500We’re ALWAYS paying more taxes. Governments are rapacious and more is never enough.
