Governments’ Big Budget Misses Not Just A Covid Problem
Canada’s federal, provincial and territorial governments have spent a combined total of $97 billion more than they promised in their budgets since 2000, a figure set to worsen with the advent of the COVID-19 pandemic, according to a new C.D. Howe Institute report. In “…Busted Budgets: Canada’s Senior Governments Can’t Stick to Their Fiscal Plans
Canada’s federal, provincial and territorial governments have spent a combined total of $97 billion more than they promised in their budgets since 2000, a figure set to worsen with the advent of the COVID-19 pandemic. Since 2000, Canada’s senior governments have spent $97 billion – some $2,600 per Canadian – more than they budgeted and […] Kronick, Ambler – Average Inflation Targeting: Is It Right For Canada?
To: Governing Council at the Bank of Canada From: Jeremy M. Kronick and Steve Ambler Date: October 1, 2020 Re: Average Inflation Targeting: Is It Right for Canada? On August 27, the US Federal Reserve Board announced an important modification of its monetary policy framework, moving towards “average-inflation targeting” (AIT). As the Fed’s announcement said: “following periods when […] The Ins And Outs Of Interprovincial Flows
Trevor Tombe and Daniel Schwanen’s new paper outlined the ways in which Alberta (and Canada generally) could benefit by reducing obstacles to internal migration and labour mobility. Along the way, they included these two fascinating charts that portray the movement of people into and out of Alberta and the interprovincial flows for the whole nation. Competition In Health Care: Let’s Have A Serious Debate – Financial Post Op-ed
The long-awaited ruling in the Cambie case, Dr. Brian Day’s challenge to British Columbia’s Medicare Protection Act, has upheld the rules that effectively bar private provision of publicly covered medical services. But it does not say whether suppressing privately funded care, as the act seeks to do, is good policy. It is not. Absent some degree of competition from private care, the Canadian health-care system will continue to be both expensive and mediocre in comparison with those in peer countries other than the United States.
Like the courts in the 2002 Chaoulli case, the judge in this case found that long wait times for care could be considered inconsistent with the Charter of Rights and Freedoms’ guarantee of “the right to…
Alberta Should Fight Downturn With Greater Job Mobility
Alberta should open its doors to job seekers with labour mobility reforms that will boost its economic fortunes post-COVID, says a new report from the C.D. Howe Institute. In “Alberta’s Opportunity: The Ins, Outs and Benefits of Greater Job Mobility,” authors Trevor…Should the Bank of Canada follow the Fed’s inflation policy shift? – Financial Post Op-Ed
On Aug. 27, the U.S. Federal Reserve Board announced an important modification of its monetary policy framework, moving towards “average-inflation targeting” (AIT). As the Fed’s announcement said: “following periods when inflation has been running persistently below two per cent, appropriate monetary policy will likely aim to achieve inflation moderately above two per cent for some time.” The obvious question for Canadian policy-makers is whether the Bank of Canada should follow suit. Our answer is: Perhaps, but the bar for changing the policy regime should be set high.
As the name suggests, under “average-inflation targeting,” the central bank’s target would be the average inflation rate over a specified time, say three years.…
Alberta’s Opportunity: The Ins, Outs and Benefits of Greater Job Mobility
Alberta Should Fight Downturn with Greater Job Mobility Alberta should open its doors to job seekers with labour mobility reforms that will boost its economic fortunes post-COVID. Authors Trevor Tombe and Daniel Schwanen quantify the potential gains of easing labour mobility barriers across occupations, sectors and regions, and explore how making it easier for people […] Grant Bishop – Supreme Court Should Recognize Ottawa’s Exclusive Ghg Jurisdiction But Find The Carbon Price Backstop Unconstitutional
From: Grant Bishop To: Supreme Court of Canada Date: September 28, 2020 Re: Supreme Court should recognize Ottawa’s exclusive GHG jurisdiction but find the carbon price backstop unconstitutional Against the backdrop of intensifying climate change, the Supreme Court last week began hearing arguments on the constitutionality of the Greenhouse Gas Pollution Pricing Act – the federal carbon-pricing backstop. Its […] Koeppl, Kronick – An Open Banking Playbook
From: Thorsten Koeppl and Jeremy M. Kronick To: Chrystia Freeland, Minister of Finance Date: September 25, 2020 Re: An Open Banking Playbook Open banking may not seem like a pressing matter in the middle of a global pandemic, but it is exactly the type of productivity-enhancing file that can stimulate the economic recovery. Every time a person or business […]