La réconciliation passe surtout par l’économie – La Presse Op-Ed
Une véritable réconciliation avec les peuples autochtones doit aller au-delà des symboles pour se traduire en actions concrètes pour accélérer le rattrapage économique des Premières Nations, des Inuits et des Métis.
En cette Journée nationale de la vérité et de la réconciliation, examinons la contribution potentielle de la finance durable à ce rattrapage. En 2015, la Commission du même nom avait appelé le milieu des affaires à s’engager à reconnaître les droits des peuples autochtones, à leur faire place parmi leurs employés, dirigeants et actionnaires, à investir dans leurs communautés et à éduquer leur personnel sur ces enjeux.
PENSER AUX SEPT GÉNÉRATIONS À VENIR
Dans la culture autochtone, la terre n’appartient à…
Drummond, Laurin – Federal Finances: This is No Time for Loose Pursestrings
From: Don Drummond and Alexandre Laurin To: Finance Minister Chrystia Freeland Date: September 29, 2022 Re: Federal Finances: This is No Time for Loose Pursestrings After the pandemic-induced swelling of the federal government’s deficit and debt burden, there has been some apparent good fiscal news of late. The Parliamentary Budget Office (PBO) declared federal finances “sustainable.” Its projection shows that […] Federal tax hikes on banks and insurers risk causing broader economic damage – Globe and Mail Op-Ed
Taxes are a necessary evil. Necessary, because we must fund government services. Evil, because they do damage beyond the cost to those who pay them – discouraging work and saving, misallocating where our scarce resources go, and encouraging underground activity. The federal government’s coming levies on banks and insurers – a corporate income surtax and the “Canada Recovery Dividend” – don’t even qualify as “necessary.”
These taxes were part of the Liberal campaign platform for last year’s federal election. The platform committed to raising the corporate income tax rate on bank and insurer profits above $1-billion from the 15 per cent other businesses pay to 18 per cent. It also proposed the Canada Recovery Dividend: a…
Laurin, Robson – Inflation Pain Includes Tax Creep and Benefit Erosion
From: Alexandre Laurin and William B.P. Robson To: Canada’s Tax Collectors Date: September 27, 2022 Re: Inflation Pain Includes Tax Creep and Benefit Erosion Inflation of 7 percent or more is something many Canadians had never experienced until this summer. As a country, we are rediscovering how much inflation hurts. The shrinking value of our dollars is […] Taxes can amplify the pain of inflation – Globe and Mail Op-Ed
Inflation around 8 per cent is something many Canadians had never experienced until this summer. As a country, we are rediscovering how much inflation hurts. The shrinking value of our dollars is bad enough on its own, but inflation harms us in more subtle ways, including through its interactions with taxes and government benefits. Now would be a good time for some changes to lessen the pain.
Below are several examples.
When personal income tax thresholds and benefits are fixed in dollar terms, inflation pushes workers into higher tax brackets even when their real incomes do not rise. Some tax thresholds are indexed to inflation, but others are not.
Alberta, for instance, has just announced it will resume indexation…
The Right to Know: Grading the Fiscal Transparency of Canada’s Senior Governments, 2022
Canada’s senior governments raise and spend huge amounts, and have legally unlimited capacity to borrow when their expenses exceed their revenues. Holding public officials accountable for their spending, taxing and borrowing is a foundational task in a system of representative government. Citizens have the right to know, and elected representatives have duties to them. […] Miville Tremblay – Tax Cut Promises on Quebec’s Campaign Trail Seem Unwise
From: Miville Tremblay To: Quebec Election Watchers Date: September 7, 2022 Re: Tax Cut Promises on Quebec’s Campaign Trail Seem Unwise A post-pandemic euphoria grips our politicians on the campaign trail. We would like to join in, but the tax cuts promised by both the Coalition avenir Québec (CAQ) and the Liberals are problematic. They may have broad […] Duval, Allard – Canada’s New Interest and Financing Expense Deductibility Rules
From: Marc André Gaudreau Duval and Marc Pietro Allard To: The Hon. Chrystia Freeland, Minister of Finance and Éric Girard, Quebec Finance Minister Date: August 26, 2022 Re: Canada’s New Interest and Financing Expense Deductibility Rules New rules limiting the deduction of “interest and financing expenses” to a percentage of earnings before interest, taxes, depreciation and […] Tax Support for R&D and Intellectual Property: Time for Some Bold Moves
Ottawa’s Review of the SR&ED Credit Needs Bolder Thinking Ottawa’s review of the Scientific Research and Experimental Development (SR&ED) program is welcome news, but bolder thinking is needed to substantially improve the effectiveness of the tax credit, according to a new report from the C.D. Howe Institute. In “Tax Support for R&D and Intellectual Property: […] Angelo Nikolakakis – Global Tax Deal: Who Wins and Who Loses?
From: Angelo Nikolakakis To: Finance Minister Chrystia Freeland Date: July 13, 2022 Re: Global Tax Deal: Who Wins and Who Loses? The 2022 federal budget launched consultations on the implementation of a Global Minimum Tax of 15 percent, which was endorsed in principle by members of the OECD and G20 in 2021. In simple terms, the “Pillar Two” tax rules […] S4 E9: Inflation and a Recession with Bill Robson and Jeremy Kronick
Raising interest rates to cool inflation is only part of the solution. But as the C.D. Howe Institute’s Bill Robson and Jeremy Kronick tell host Michael Hainsworth, fiscal policy that increases corporate Canada’s productive capacity to meet demand isn’t likely, leaving the central bank with the task of dousing the inflationary fire from 2 years of COVID-19 spending.
Ed Devlin on BNN – Canadian interest rates alone won’t solve the global inflation problem
Ed Devlin, Founder of Devlin Capital and Senior Fellow at the C.D. Howe Institute (also former Head of Canadian Portfolio Management, PIMCO), joins BNN Bloomberg for reaction to Bank of Canada’s largest rate hike since 1998. He says the central bank is frontloading rate hikes today instead of indicating a faster tightening cycle.