Good Governance of Monetary Policy in Canada: Lessons from the C.D. Howe Institute’s Shadow Council
The Bank of Canada should consider publicly disclosing the discussions and dissenting opinions of members of its interest-rate-setting committee, according to a new C.D. Howe Institute report. In “Good Governance of Monetary Policy in Canada: Lessons from the C.D. Howe Institute’s Shadow Council,” authors Pierre Siklos and Matthias Neuenkirch argue that the existing governance structure […] Uncorking a Strange Brew: The Need for More Competition in Ontario’s Alcoholic Beverage Retailing System
The lack of competition in Ontario’s system for alcoholic beverage retailing causes higher prices for consumers and foregone government revenue, according to a report from the C.D. Howe Institute. In “Uncorking a Strange Brew: The Need for More Competition in Ontario’s Alcoholic Beverage Retailing System,” authors Paul R. Masson and Anindya Sen call for a […] Credibility on the (Bottom) Line: The Fiscal Accountability of Canada’s Senior Governments, 2013
Canada’s senior governments have regularly missed budget spending and revenue targets during the last decade, with spending overruns of $47 billion combined, according to a report released today by the C.D. Howe Institute. In “Credibility on the (Bottom) Line: The Fiscal Accountability of Canada’s Senior Governments, 2013,” authors Colin Busby and William B.P. Robson rank […] Registering in Harmony: The Case for Pan-Canadian Corporate Registration
Canadian businesses face costly red tape when they want to do business across provincial borders; a problem that is hindering business expansion and economic growth, according to a report released today by the C.D. Howe Institute. In “Registering in Harmony: The Case for Pan-Canadian Corporate Registration,” authors Daniel Schwanen and Omar Chatur note that while […] Baffling Budgets: The Need for Clearer and More Comprehensive Financial Reporting by Canada’s Municipalities
Opaque budgeting methods and financial reports in Canada’s major cities baffle councilors and taxpayers, according to a report released today by the C.D. Howe Institute. In “Baffling Budgets: The Need for Clearer and More Comprehensive Financial Reporting by Canada’s Municipalities,” authors Benjamin Dachis and William B.P. Robson, say fixing these flaws is a critical step […] No one knows if Toronto hits its budget targets: Toronto Star Op-Ed
Published in the Toronto Star on January 15, 2014
By Benjamin Dachis and William B.P. Robson
January is budget season at Toronto city hall. The debate in council is getting louder — but no more enlightening.
As councillors and the mayor trade barbs about whether Toronto taxes and spends too much or too little, it might seem natural to ask how this year’s proposed budget compares to last year’s results. Will we spend more or less? Or to ask how last year’s results compare to the budget council approved a year ago. Did the city hit its targets? Weirdly, however, those are questions almost no one can answer.
Lots of organizations — governments, businesses, not-for-profits — produce budgets at the…
No to balanced-budget laws, yes to sound budgeting: Globe and Mail Op-Ed
Published in the Globe and Mail on October 29, 2013
By Christopher Ragan
The federal government has recently announced its intention to legislate a requirement for balanced budgets. Hard-core fiscal conservatives love this idea because they believe it is desirable to restrict the spending powers, and thus the size, of government. Unfortunately, such legislation is either ineffective or ends up creating bigger problems than it solves. Genuine fiscal responsibility cannot be achieved through simple legislation.
Before proceeding, let me come clean. I share the belief of many fiscal conservatives that large and persistent budget deficits can be a serious problem, and that genuine troubles are created when…
Alberta’s Best Schools – 2013
A new in-depth report reveals Alberta’s best schools using student results on Provincial Achievement Tests in math, reading, science and social studies in grades 3, 6 and 9. In “Identifying Alberta’s Best Schools,” Professor David Johnson compares student outcomes on an “apples-to-apples” basis at Alberta schools where students come from similar socio-economic backgrounds, revealing “good” […] How Ottawa Can Deliver a Reformed Canada Post
The federal government should progressively allow new entrants to bid for some of the mail services currently provided by Canada Post, says a report released today by the C.D. Howe Institute. In “How Ottawa Can Deliver a Reformed Canada Post,” author Benjamin Dachis, Senior Policy Analyst at the Institute, notes that Canada Post, a Crown […] The real risky lender: Financial Post Op-Ed
Posted in the National Post on March 20, 2013
By Finn Poschmann and Philippe Bergevin
The irony of Finance Minister Jim Flaherty’s hounding of bank mortgage lenders, for advertising competitive market terms, should be lost on none. Perhaps he believes lenders will extend daft, risky loans, or that low market interest rates will tease borrowers into taking on debt they can ill afford. In Ottawa, however, risky lending begins at home: Federal Crown financial corporations, for which Mr. Flaherty’s government is responsible, beat the market competition every time.
Today’s budget, and the next one, are opportunities to do something about it. By expanding on Budget 2012, which took steps toward reining in the market‘…
Canada’s 2012 Fiscal Accountability Rankings
Canada’s senior governments have regularly missed budget spending and revenue targets during the last decade, according to a report by the C.D. Howe Institute. In “Canada’s 2012 Fiscal Accountability Rankings,” authors Colin Busby and William B.P. Robson find the combined spending overruns of federal, provincial and territorial governments have surpassed $53 billion in the last […] Farm Credit – A Crown full of risks: Financial Post Op-Ed
Published in the Financial Post on February 6, 2013
By Philippe Bergevin and Finn Poschmann
North America’s population in the 19th century spread from east to west, driven in the main by farming. And where farmers planted themselves, so grew a demand for farm credit, and eastern bankers followed them.
Drought and crop failure repeatedly parched farmers’ credit, and their bankers’, and when fresh credit got tough to get, the farmers turned to government for help. Here, farm economics and politics led to the 1920s’ Canadian Farm Loan Board, created to offer mortgages to respond to a perceived lack of credit for Western farmers.
The Farm Credit Corporation replaced the board in 1959, with a broader mandate…