Federal Pot Report Still Leaves a Lot of Haze in The Air: Financial Post Op-Ed
The federal government has just released the report of its special advisory task force on marijuana legalization. While the report lays out broad strokes, key decisions remain on retail distribution, legal age limit, and taxation that Ottawa and the provinces should agree on soon.
The report recommends that provinces be given the jurisdiction to determine the precise mechanism of retail distribution. However, the report has also recommended against allowing the sale of marijuana in stores that also offer liquor and/or cigarettes. This is consistent with my own study that was released by the C.D. Howe Institute, in which I recommended retail sales through stand-alone stores as opposed to government-owned retail…
InterOil-Exxon Precedent Delivers a Wake-Up Call on Fairness Opinions: Globe and Mail Op-Ed
Rare is the precedent-setting securities case that emerges from the Yukon Court of Appeal. The recent attempted arrangement between InterOil Corp. and Exxon Mobile Corp., however, has given rise to such a case. The decision contains a welcome judicial pronouncement on fairness opinions in the context of corporate mergers.
InterOil was set to merge with another corporation before Exxon came forward with a “white knight” offer. InterOil’s financial adviser, Morgan Stanley, provided it with a fairness opinion stating that the merger (which was structured as an arrangement) was fair from a financial point of view.
While fairness opinions are common in merger transactions, their purpose may be legitimately questioned. Should…
Paul R. Masson – Time to Modernize the Retail of Alcoholic Beverages in Ontario
From: Paul R. Masson To: The Hon. Kathleen Wynne Date: November 25, 2016 Re: Time to Modernize the Retail of Alcoholic Beverages in Ontario The time has come for Ontario to modernize its antiquated system for selling alcoholic beverages—designed almost a century ago when alcohol sales were to be strictly controlled. Moving to a system […] Blake Shaffer – What Does a Capacity Market Mean for Alberta?
From: Blake Shaffer To: Alberta’s Electricity Consumers Date: November 24, 2016 Re: What Does a Capacity Market Mean for Alberta? Alberta has just announced a significant change to its electricity market: the introduction of a capacity market. But what does this mean? And why are they making this change? Broadly speaking, electricity systems are either market-based or […] Ben Dachis – Keep Easing Foreign Ownership Rules on Airlines
From: Benjamin Dachis To: Minister Marc Garneau CC: Minister Navdeep Bains Date: November 7, 2016 Re: Keep Easing Foreign Ownership Rules on Airlines Last week, your government announced that it would increase the limit of foreign ownership on airlines operating domestic routes. That move looks like it is already resulting in new entrants to the airline […]Damage Control: Abuse of Dominance and the State of Private Remedies in the Competition Act
Report of the C.D. Howe Institute Competition Policy Council
The federal government should cautiously expand the kinds of anti-competitive acts that private parties – and not just the Competition Bureau – can take legal action against in Canada to include abuses of dominance. However, the government should not otherwise lower existing thresholds for private parties to commence proceedings to enforce competition laws and should make no more than incremental changes to private rights of action. Although there was considerable difference of opinion regarding the extent and benefits of private party interventions, this is the majority view of the C.D. Howe Institute’s Competition Policy Council, which held its twelfth meeting on…
Donald Dewees – Automated Vehicle Safety Still Depends on the Driver
From: Donald N. Dewees To: Federal and Provincial Ministers of Transportation Date: September 29th, 2016 Re: Automated Vehicle Safety Still Depends on the Driver The billions of dollars in projected benefits from accident prevention by autonomous (self-driving) vehicles will only be realized if drivers use those features and if they do not respond to increased […]Daniel Schwanen – Exporting Canadian Culture
From: Daniel Schwanen To: The Honourable Mélanie Joly, Minister of Canadian Heritage Date: September 27th, 2016 Re: Exporting Canadian Culture You have engaged Canadians in a review of policies that support the creation and promotion of Canadian cultural content. This review is an excellent opportunity to clarify the principles that will underpin the government’s cultural […]How Ontario can cut electricity bills without using tax dollars: Toronto Star Op-Ed
The Ontario government has signaled that it is going to find a way to reduce your electricity bill. For this to work, it should stop relying on hiking your taxes to lower your electricity bill and instead focus on real reform of the electricity system.
Most previous plans to reduce electricity bills relied on having taxpayers or other electricity users foot the bill for lower electricity costs only for some. The first plan was the Ontario Clean Energy Benefit, which came straight from tax dollars. That was replaced by the Ontario Electricity Support Program for low-income households. The province puts the cost of that program on other electricity users.
The government also recently eliminated the Debt Retirement…
Konrad W. von Finckenstein – Promote and simplify subsidies for Canadian content
From: The Hon. Konrad W. von Finckenstein, Q.C., To: The Hon. Melanie Joly, Minister of Canadian Heritage Date: September 6th, 2016 Re: Promote and simplify subsidies for Canadian content In his recent Intelligence Memo, “Time to decide if cultural policy is to promote winners or protect the losers,” Lawson Hunter ends his memo with the note […]Donald N. Dewees – How Big Are the Benefits of Autonomous Autos?
From: Donald N. Dewees To: Federal and Provincial Ministers of Transportation Date: August 29, 2016 Re: How Big Are the Benefits of Autonomous Autos? Proponents claim billions of dollars in benefits from accident prevention by autonomous (self-driving) vehicles. Many assume that autonomous vehicles will prevent 80% of motor vehicle accidents which seems reasonable when 93% of accidents […]Thorsten Koeppl – Stop Tinkering With Mortgage Insurance Rules – Just Price It Right
From: Thorsten Koeppl To: The Hon. Bill Morneau, Minister of Finance Date: August 25th, 2016 Re: Stop Tinkering with Mortgage Insurance Rules – Just Price It Right Last week news emerged that Finance Canada is floating the idea of a deductible on mortgage insurance. This will be another attempt by the Federal Government to rein in […]