Covering drugs for young people isn’t the best way to fill gaps in health care: Toronto Star Op-Ed
With much fanfare, Ontario’s 2017 budget announced the introduction of universal drug coverage, starting next January, for those under age 25. True, drugs are an important part of the problem in gaps in publicly funded healthcare. But even with an annual starting cost estimated at $480 million, “OHIP+” looks like a poor approach to closing the pharmacare gap while taking up limited fiscal room to close health gaps elsewhere.
Much of the money for OHIP+ will pay for the drugs of people who didn’t have any access problems in the first place. A more targeted approach could have a much larger effect on addressing the many unmet healthcare needs of Ontarians.
…Canadian monetary policy has just seen one of its most significant U-turns in recent years. On May 24, the Bank of Canada announced that it was holding its overnight rate steady. The tone of the announcement was less dovish than the previous one, but contained nothing to indicate impending rate increases. Shortly after the May announcement, markets were predicting a 5-per-cent chance of a rate increase in July. However, in the days preceding Wednesday’s announcement, that probability surpassed 90 per cent. With the bank increasing rates on Wednesday, how did we get so quickly from there to here?
Let’s start with the case for the rate hike. Unemployment has fallen to 6.5 per cent, GDP growth in the first quarter of 2017 was robust…
Ontario’s proposed 20.6-per-cent increase in the minimum wage from $11.60 in October to $14 on January 2018 is the largest dollar hike in any Canadian province over the past two decades. By Jan. 1, 2019, the minimum wage is scheduled to reach $15. Poverty advocates argue many low-income households will benefit. But they should also take a close look at the Canadian evidence that shows that minimum-wage hikes will lead to fewer jobs for immigrants.
Much of the current Ontario debate has focused on either U.S.-based research or the experience in some specific cities. Ontario Labour Minister Kevin Flynn said that wage increases in San Francisco and Seattle led to increasing employment in those areas. The most recent data…
