Amin Mawani – Let’s Focus On Scope 1 Measures of Carbon Emissions
From: Amin Mawani To: Canadian Security Administrators Date: November 5, 2021 Re: Let’s Focus On Scope 1 Measures of Carbon Emissions The Canadian Securities Administrators (CSA) is seeking comments on its proposal for carbon emission reporting by firms listed on Canadian stock exchanges, part of the worldwide move to mandatory climate-related disclosure. In its call for consultation two weeks […] Angelo Nikolakakis – Global Tax Deal: Who Wins and Who Loses?
From: Angelo Nikolakakis To: Finance Minister Chrystia Freeland Date: October 20, 2021 Re: Global Tax Deal: Who Wins and Who Loses? Headlines abound on recent developments toward the widespread – but not universal – adoption of a new approach to the taxation of large multinational enterprises (MNEs). Last week, a G20 Communiqué proclaimed an “historic agreement” that “will establish a […] Les aveugles et l’éléphant – La Presse Opinion
Comme dans la parabole bouddhiste, on examine souvent la dette publique tels les six aveugles qui tâtent différents bouts de l’éléphant et qui tentent de se faire une idée de la bête. Or, en renonçant à l’aveuglement volontaire des idées préconçues, on peut se faire une idée plus complète des finances publiques, mises à mal par la pandémie.
J’avais particulièrement hâte d’examiner mercredi les derniers chiffres du Fonds monétaire international (FMI) sur l’endettement des pays, mesuré de manière assez comparable, quelle que soit leur répartition des responsabilités entre les niveaux de gouvernement.
On y constate que la dette brute du Canada, incluant toutes les administrations publiques, a bondi de 23,1 % du…
Alexandre Laurin – Tracking Capital Gains: Not Just for the Rich
From: Alexandre Laurin To: Finance Minister Chrystia Freeland Date: October 14, 2021 Re: Tracking Capital Gains: Not Just for the Rich Government deficits, along with distributional concerns, have fueled calls for heavier taxation of capital gains in recent years. Yesterday, we examined modelling around taxpayer responses to any increases. Today, still working off my article in the latest issue […] Alexandre Laurin – The Impact of Taxpayers’ Reaction to a Capital Gains Tax Increase
From: Alexandre Laurin To: Finance Minister Chrystia Freeland Date: October 13, 2021 Re: The Impact of Taxpayers’ Reaction to a Capital Gains Tax Increase Government deficits have fueled calls for heavier taxation of capital gains in recent years. I estimated the increase in personal tax revenues from increasing the capital gains inclusion rate from its current 50 percent of […] Entre Charybde et Scylla – La Press Opinion
Les banques centrales s’approchent du dangereux passage entre Charybde et Scylla, les monstres marins de la mythologie grecque qui menaçaient les navires. Sauf que les écueils d’une faible croissance et de l’inflation sont bien réels.
La relance économique est enclenchée. Le Québec, pour l’un, a retrouvé son niveau de PIB d’avant pandémie dès mars. Mais ici comme ailleurs, cette reprise est encore mal assurée et inégale, comme on le voit dans les services livrés en proximité avec la clientèle.
L’inflation est manifeste, provoquée en grande partie par la perturbation des chaînes d’approvisionnement mondiales causée par la COVID-19, ce qui suggère qu’elle serait transitoire. Mais si les goulots d’étranglement persistent, ce…
Yes, Canadians Should Worry
Should Canadians worry about the level of government debt when interest rates are so low? Yes. But the primary danger doesn’t come so much from Canada. Instead, it comes from the fiscal behavior of the US government. Government debt levels have risen to historically high levels in all major industrialized countries, including Canada and the […] Good, Bad, and Incomplete: Grading the Fiscal Transparency of Canada’s Senior Governments, 2021
Stars and Dogs: How Senior Governments Rank on Fiscal Transparency Financial reporting by Canada’s senior governments has improved over time, but setbacks and deficiencies threaten accountability to Canadians, says a new report from the C.D. Howe Institute. Authors William B.P. Robson and Miles Wu present the C.D. Howe Institute’s latest annual report on the accessibility, […] S3 E18: Hawks vs Doves: Canada’s Fiscal Situation with Don Drummond and Kevin Milligan
Is now the time to pay for COVID-19 and to raise interest rates? Queen’s University Stauffer-Dunning Fellow and Adjunct Professor Don Drummond is worried about saddling the next generation with today’s debt, while University of British Columbia Professor Kevin Milligan believes a harsh cure may do more damage than good. Dachis, Robson – More Economic Policy Issues For This Election Campaign
From: Benjamin Dachis and William B.P. Robson To: Canadian Federal Parties Date: September 3, 2021 Re: More Economic Policy Issues for this Election Campaign Economic policy has featured in the federal election campaign. But not enough. Canadians have heard a few things about housing (the main focus should be boosting supply), childcare (parties should put […] Don Drummond – It’s 2035. Do You Know Where Your Deficit Is?
From: Don Drummond To: Canadian debt watchers Date: August 11, 2021 Re: It’s 2035. Do you know where your deficit is? As the Liberal government in Ottawa starts ramping up for the big October 19 celebration of Prime Minister Justin Trudeau’s 20 years in power, fiscal storm clouds loom. A gradual but modest rise in interest rates, the continuation […] Rolling the Dice on Canada’s Fiscal Future
Ottawa’s Gamble on Canada’s Fiscal Future The federal debt-to-GDP ratio could easily rise above current peak levels associated with the pandemic. Only small changes in assumptions of economic growth and interest rates can significantly alter the course of the projected debt burden. Authors Alexandre Laurin and Don Drummond explore the sensitivity and fragility of Canada’s […]