The share of disposable income between Canada's highest and lowest households widened in the first quarter of 2023, according to data released by Statistics Canada.
The gap between the top 40 per cent and bottom 40 per cent of household incomes reached 44.7 per cent, marking a 0.2 per cent rise from the same time last year, the findings released on Tuesday showed. The figure was still lower than pre-pandemic levels, which averaged 45.1 per cent from 2010 to 2019, the data revealed. In terms of overall net worth, the gap between the rich and poor increased at record speed in the first quarter of this year with a 1.
8 per cent within this category claimed government support as a main source of income, up from 34.2 per cent in 2022. Low-income households also suffered a reduction in average net investment income as increased interest rates for loans and mortgages accounted for 84.4 per cent of the reduction in net investment income, the data showed.
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