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Brahm Shiller at UHY Victor LLP in Montreal: “While Canada’s tax as a percent of GDP is close to the G8 average, it is 8% higher than that of the US, its largest trading partner and closest neighbor."

The value of loans to businesses in Canada has contracted by 7% since the onset of the financial crisis, the third fastest decline among the G8 according to UHY, the international accounting and consultancy network.