The Regent Debate Revisited with Mitzie Hunter, Jason Kenney and John Tory
Can Canada’s fraying social safety net catch new immigrants? And if not, what’s the solution as headlines reveal many are sleeping in shifts, dying on the streets, and not able to leverage their skillset in their new homeland? Former Ontario MPP Mitzie Hunter, Alberta Premier Jason Kenney and Toronto Mayor John Tory join Michael Hainsworth to revisit an […] Gripped by Toronto’s annual budget panic? Just wait for the surplus – Globe and Mail
The annual panic over the City of Toronto budget is peaking. The 2024 version stands out in a bad way, with a double-digit tax increase proposed for homeowners and many businesses. Yet much of the ritual is familiar. For one thing, it is late: The city is already collecting and spending money council has not approved. Worse, the dire numbers from city staff last week are long on alarm and short on useful information.
Suppose you are preparing a year-ahead budget for your family, or a business or non-profit. You start with recent experience. Your last complete year is key, because you have actual revenue and expenses for that year, and know the difference between them – your surplus or deficit. The current year isn’t yet over –…
Paul R. Masson – Goldilocks Interest Rates Needed to Help Housing Affordability
From: Paul R. Masson To: Canadian housing watchers Date: January 15, 2024 Re: Goldilocks interest rates needed to help housing affordability In the current debate about how to make housing affordable in Canada, there is a curious omission: The role of monetary policy, which was excessively loose in creating the problem and can be more responsibly applied to solve it. […] Peter Hall – Near-shoring and SMEs: Benefits and costs
From: Peter Hall To: International trade watchers Date: January 12, 2024 Re: Near-shoring and SMEs: Benefits and costs Business investment is being rocked by a new movement. Proof is pouring in that near-shoring is taking the world by storm. That is, as far as we can tell at this point. This wave is so new that it’s going to […]Mahboubi, Skuterud – A Multi-Pronged Strategy for Managing Canada’s Surging Non-Permanent Resident Population
From: Parisa Mahboubi and Mikal Skuterud To: The Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship Canada Date: January 11, 2024 Re: A Multi-Pronged Strategy for Managing Canada’s Surging Non-Permanent Resident Population Recent years have seen an unprecedented increase in Canada’s non-permanent resident (NPR) population far surpassing increases in annual admissions of new permanent residents. This unbalanced growth […] Overly optimistic Liberals are lowballing government debt risk – Financial Post
In its November Fall Economic Statement, the federal government presented a long-term projection that shows its debt ratio — that is, federal debt divided by GDP — declining smoothly over the next 30 years. But this outcome follows from overly optimistic assumptions about interest rates and program spending, and a decision to ignore the impact of recessions, which are certain to happen in any 30-year period. Taking such a rosy approach to debt sustainability allows the government to avoid making the hard choices on spending and taxes that no government likes.
Ottawa’s analysis assumes the effective interest rate on federal debt remains below the growth rate of the economy from now all the way to 2055-56. This sunny…
Sen, Masson – Cheers to Ontario’s New Alcohol Marketing Framework
From: Anindya Sen and Paul R. Masson To: Ontario competition watchers Date: January 10, 2024 Re: Cheers to Ontario’s New Alcohol Marketing Framework Real competition is coming to Ontario alcohol retailing on January 1, 2026 after last month’s announcement about replacing the province’s Prohibition-era hodgepodge of rules. These reforms, which follow along the lines of our 2014 C.D. Howe […] Laurin, Dahir – Charities Fall Victim to Federal Tax-the-Rich Plan
To: The Hon. Chrystia Freeland, Minister of Finance From: Alexandre Laurin and Nicholas Dahir Date: January 8, 2024 Re: Charities Fall Victim to Federal Tax-the-Rich Plan The end of 2023 last week marked the likely end of full tax relief for some charitable giving. The federal government has yet to table its legislation for reforming the alternative minimum […] Lester, Laurin – The Federal Debt is Not Sustainable
To: Canada’s budget observers From: John Lester and Alexandre Laurin Date: January 5, 2024 Re: The Federal Debt is Not Sustainable The recent Fall Economic Statement (FES) contains a familiar rosy assessment of federal debt sustainability. It shows the ratio of debt to GDP declining continuously over 30 years starting in the second year of the medium-term forecast, […] Ambler, Kronick – Inflation Targeting Ain’t Broke So Let’s Not Fix It
From: Steve Ambler and Jeremy M. Kronick To: Canadians Worried About Inflation Date: January 4, 2024 Re: Inflation targeting ain’t broke so let’s not fix it Despite disappointment in the performance of many central banks, let’s not lose sight of key lessons. First, inflation stinks, inflicting most harm on those who can afford it least. Second, central banks […] Charles DeLand – Plan B, Please, for Federal Carbon Policy
To: Canadians Concerned about Climate Change From: Charles DeLand Date: January 3, 2024 Re: Plan B, Please, for Federal Carbon Policy Suggestions that Canada’s rising emissions prove federal carbon policy is not working miss the mark. The country’s energy efficiency has, in fact, improved considerably under the carbon tax, but rapid population growth means more emissions. Now, unfortunately for […] Angelo Nikolakakis – Here’s How Ottawa’s Financial Institution Tax Will Really Work
From: Angelo Nikolakakis To: Finance Minister Chrystia Freeland Date: January 2, 2024 Re: Here’s How Ottawa’s Financial Institution Tax Will Really Work Tucked into November’s 500-page Notice of Ways and Means motion is an unwise measure that urgently needs to be withdrawn. First announced as part of Budget 2023, it imposes an additional $3 billion of federal income tax on “financial institutions” over […]