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A new federal tax system to replace Canada’s national insurance system will cost $1.8bn – the largest single change to the tax system in a decade, and one that will mean more jobs lost and a boost to the deficit

Canada is about to enter a new era of economic prosperity.But with the country in a political tailspin over the next two years, it will also become more expensive to operate the Canadian economy, the OECD says.The OECD has warned of the “big, scary” change in the way Canada’s federal and provincial tax systems work