External risks more acute for Canada than in the recent past: IMF
OTTAWA — The external risks facing the Canadian economy are more acute than in the recent past, the IMF said Monday in an annual review that has focused on the country’s housing market in recent years.
Cheng Hoon Lim, the IMF’s assistant director, Western Hemisphere Department, said economic anxiety is high with concerns about the future of the NAFTA talks and developments in international corporate taxation including the recent U.S. corporate tax cuts.
“The impact of lower corporate tax rates in the U.S. could make Canada a less attractive destination for investment,” she said.
The IMF report recommended it was time for Canada to examine its corporate tax in the face of the changes in the U.S.