Conclusion

Household Actual Final Consumption (HAFC) expands on household final consumption expenditure by adding to it, the social transfers in kind from government and from non-profit institutions serving households. It is an important component of Canadian macroeconomic statistics and HAFC allows for a more meaningful understanding of living standards by considering the consumption of households, not only from their own final expenditure but also from the final expenditure of other sectors that benefit them. Health care and education are high costs that Canadians benefit from through policies and programs that are funded through the tax system. These types of consumption are important considerations as it enhances the understanding of economic well-being of Canadians.