Discussion of Canada’s lagging productivity performance was missing from the recent federal election campaign, which is perhaps no surprise. It’s not a subject that lends itself to daily announcements and photo ops. But now that the electoral dust has settled it’s time to take steps to address the issue.
There is no better place to start than to boost productivity in the financial services sector, where Canada possesses an international comparative advantage. The sector not only employs relatively more educated workers and generates higher earnings than the rest of the economy, it has the unique ability to boost the entire economy’s productivity while boosting its own.
Surprisingly, however, the financial services sector’s…
The big winner in the recent federal election was clearly climate change. The streets were clogged with marchers, and the parking lots were full of the SUVs, vans and pickup trucks that delivered many of the protesters. Therein lies the challenge of taking action on climate change. Canadians are demanding action, but ask most people what they are doing for climate change, and a frequent response is “recycling?” Ask what they are willing to pay, and the answer from most is “less than $100.” Ask what they think of our energy sector, and the majority say they support a low-carbon economy, the TMX pipeline and responsible energy development.
Canadians want action and, although they aren’t clear what precisely that means, they are…
The dispute between Calgary and Alberta over the city’s budget and provincial transfers needs a few facts. One, especially, would help: the city’s actual bottom line.
If you don’t know it, you are not alone. Here are two hints. Calgary ran a surplus in 2018. And, for context, the city’s total expenses that year were $3.9 billion.
So how big was the surplus? You probably guessed something like $1 million, or $10 million — surely no more than $100 million. You know how heated and anxious the city’s budget debate gets each fall: threats of cuts to social services and policing, hikes to taxes and fees, delays in maintaining and key infrastructure. If Calgary’s isn’t in the red, it must be barely in the black.
Yet the…
