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Wealth of Canadians divided along racial lines, says report on income inequality

Wealth of Canadians divided along racial lines, says report on income inequality
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OTTAWA -- A new report on income inequality in Canada suggests visible minorities do not have as much access to investments and other sources of wealth.

The says about 25 per cent of racialized people earned income from investments in 2015, while nearly 31 per cent of non-racialized Canadians received money through investments that year.

There was also a gap in the amount earned this way, with racialized Canadians receiving, on average, nearly $3,700 less.

There was also a disparity between visible minorities and white people when it came to reporting capital gains.

Sheila Block, the economist who co-authored the report, says looking at disparities in wealth, in addition to hours worked and wages earned, sheds more light on the issue of income inequality in Canada, as it can reveal the cumulative impact of racism throughout generations.

She says there is little Canadian data available when it comes to looking at wealth in this way and that better data could lead to more equitable and effective anti-racism policies.
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