The rich get richer and the poor get poorer goes the old saying. But is it true? It certainly seems to be the case in Canada.
A new report published by Statistics Canada last week showed that the wealth gap in our country continues to widen. According to the report, the richest 20 per cent of Canadians accounted for nearly 70 per cent of the country’s total wealth in the third quarter of 2023, while the bottom 40 per cent of Canadians represented a meagre three per cent of Canada’s wealth in that time. The wealth gap between these two groups rose by 0.2 per cent from 2022 to 2023.
