Council Reports

April 7, 2020 - Many provinces will face greater difficulties financing the revenue gaps and spending demands from COVID-19 as funding pressures continue to mount. While subnational governments have so far been successful in financing their increased borrowing, many provinces are in worse shape relative to their fiscal positions before the last financial crisis. Furthermore, the loss of provincial revenue from tax deferments will require increased debt financing, putting additional funding pressures on governments whose financial positions are already precarious. 

First and foremost, federal officials must support the functioning of markets for provincial debt. To this end, the Crisis Working…

April 3, 2020 - The C.D. Howe Institute’s Crisis Working Group on Household Income and Credit Support held their second meeting on March 31, 2020 to identify and prioritize key policy challenges during the COVID-19 crisis, and consider policy options and recommendations. The group is comprised of Canadian business leaders and economists and chaired by Michael Horgan, Senior Advisor at Bennett Jones LLP and former Deputy Minister of Finance, Government of Canada.

The working group calls for:

Quicker release of economic data indicators to provide a current and accurate picture of the state of the labour market, enabling individuals, businesses and decision-makers to make informed decisions, Fortification and clarity…

April 2, 2020 – At the second meeting of the C.D. Howe Institute Crisis Working Group on Business Continuity and Trade on Tuesday, March 31, the group underscored the importance of government action to safeguard supply chains for critical goods – and address potential bottlenecks in the transport of goods by truck domestically and internationally.

The group of industry experts and economists, co-chaired by Dwight Duncan, Senior Strategic Advisor at McMillan LLP and former Ontario Minister of Finance, and Jeanette Patell, Vice-President of Government Affairs and Policy for GE Canada, urged governments to work closely with industry to address bottlenecks, but advised caution with regards to direct intervention or taking over supply…

April 1, 2020 - The C.D. Howe Institute’s Monetary and Financial Measures Working Group, supported by a group of financial market experts, and co-chaired by former Governor of the Bank of Canada David Dodge and former Deputy Superintendent of OSFI Mark Zelmer, held its second meeting on Monday, March 30, 2020. 

The working group agreed that, while there is a need for governments and central banks to monitor the effect of current crisis measures on debt and potential future inflation, these concerns are not a short-run issue and should not come at the expense of the immediate need for large-scale fiscal stimulus. To that end, the Monetary and Financial Measures Working Group recommends the following:

Quickly…

April 1, 2020 - The Public Health and Emergency Measures crisis working group is supported by a group of health academics, professionals and business leaders and chaired by Janet Davidson, Chair of the Canadian Institute for Health Information's Board of Directors, former Alberta Deputy Minister of Health, and C.D. Howe Institute Senior Fellow. The working group’s first meeting was held March 27, 2020. 

The presence of COVID-19 in communities, unlike SARS where cases were primarily concentrated in a hospital setting, broadens the scope of treatment and adds complexity to managing the spread of disease. The challenge of ensuring adequate quantities of medicines and testing reagents, for instance, has been compounded by border…