Barry Gros – Rules-based Regulations A Poor Fit For Target-benefit Pension Plans
From: Barry Gros To: Canada’s pension regulators Date: June 25, 2020 Re: Rules-based regulations a poor fit for target-benefit pension plans Regulations for target-benefit pension plans have been developed across the country in several jurisdictions and without consistency. But as I outline in my recent C.D. Howe Institute paper, their basic direction is actually a […] Jon Johnson – Relief From Threat Of Section 232 Tariffs: End Of The Road
From: Jon Johnson To: Canadians Concerned About Section 232 Tariffs Date: June 24, 2020 Re: Relief from Threat of Section 232 Tariffs – End of the Road Section 232 of the US Trade Expansion Act of 1962, which grants to the president broad powers to “adjust” imports that the Commerce Department finds threaten national security, […] Boessenkool, Robson – Thoughts On Forestalling The Coming Childcare Crisis
From: Ken Boessenkool and Jennifer Robson To: Federal and provincial childcare funders Date: June 24, 2020 Re: Thoughts on forestalling the coming childcare crisis As the economy continues to re-open, albeit differently across jurisdictions and over time, many sectors are going to struggle with necessary and ongoing rules on physical distancing and disinfecting. These new […] Ottawa Should Use CERB Extension Time Wisely: Crisis Working Group on Household Income and Credit Support
June 23, 2020 – Ottawa should use the Canada Emergency Response Benefit’s eight-week extension to update its Employment Insurance administrative architecture and roll out a training benefit program, says the C.D. Howe Institute’s Crisis Working Group on Household Income and Credit Support.
At their recent meeting, working group members discussed the proposed amendments to the Canada Emergency Response Benefit (CERB) Act. The group also identified the need for training support benefits for CERB recipients, management of uncertainties to improve decision-making by households, and increased coordination with provincial governments to ease the transition back to work.
The group recommends:
Removing the…James A. Haley – Securing The Recovery
From: James A. Haley To: Canada’s Policymakers Date: June 23, 2020 Re: Securing the Recovery COVID-19 threatens the economic security of all Canadians. It has already led to massive unemployment; it could yet unleash a wave of business failures. Existing bankruptcy frameworks resolve creditor coordination problems and promote orderly restructurings. They are not designed to deal with an […] Canada’s Recovery Plans Should Focus On Building The Infrastructure Of The Future – Globe And Mail Op-ed
In the past weeks, Canada’s economy has begun to reopen. This restart is tentative and faces great uncertainty. Nonetheless, Canada’s governments must now turn to planning for our economic recovery. The recovery plans should focus on laying foundations for Canadian prosperity in decades to come. Well-targeted infrastructure investments should be the centrepiece.
Notwithstanding the risk of a second wave for the pandemic, all indications are for a long, hard recovery rather than any “V-shaped” bounceback. Canada’s economy will likely face a period of weak demand from consumers and for our major exports, as well as depressed capital spending by private business.
Managing the crisis required unprecedented outlays by the…
Guidelines and Creativity Key to Restoring Financial Confidence: Crisis Working Group on Monetary and Financial Measures
June 22, 2020 – Governments and regulators should set out guidelines to allow for creativity in encouraging investments, such as a “sandbox” where innovative approaches can be tested, according to a new C.D. Howe Institute working group report.
The C.D. Howe Institute Crisis Working Group on Monetary and Financial Measures argues such measures would increase the confidence of lenders and investors when engaging with businesses.
The group, co-chaired by David Dodge, former Governor of the Bank of Canada, and Mark Zelmer, former Deputy Superintendent, OSFI, also tackled issues such as the underwhelming uptake of certain support measures offered by governments, uncertainty on future policy responses to the pandemic,…
Rosalie Wyonch – Low-value Care And Covid-19
From: Rosalie Wyonch To: Canadians concerned about healthcare Date: June 22, 2020 Subject: Low-Value Care and COVID-19 Low-value healthcare provides little to no benefit to patients and can cause harm. Previous research has shown that there is much low-value care in Canada. The OECD estimates that about 20 percent of health spending is directed to activities that do not […] Godbout, Gagné-dubé – Lessons From Ireland On Pandemic Income Support
From: Luc Godbout and Tommy Gagné-Dubé To: Bill Morneau, Minister of Finance Date: June 19, 2020 Re: Lessons from Ireland on Pandemic Income Support The similarity of Ireland’s economic response to COVID-19 to Canada’s – in form, scheduling and generosity of emergency measures – makes it worthy of more attention. And it’s all the more interesting because Ireland […] Godbout, Gagné-dubé – Leçons De L’irlande Sur Le Soutien Au Revenu Pendant La Pandémie
De: Luc Godbout et Tommy Gagné-Dubé à: Bill Morneau, Ministre des Finances Date: 19 juin 2020 Re: Leçons de l’Irlande sur le soutien au revenu pendant la pandémie La similitude de la réponse économique de l’Irlande à la COVID-19 avec celle du Canada, tant sur la forme que sur l’ordonnancement et la générosité des mesures mises en place, […] Paul Jenkins – Building Confidence: The Critical Intersection Of Health And The Economy
From: Paul Jenkins To: Canada’s Policymakers Date: June 18, 2020 Re: Building Confidence: The Critical Intersection of Health and the Economy We are at another important juncture in our pandemic fight. Initially we were focused, and still are today, on measures to deal with the virus and get control of the situation. On the economic […] COVID-19’s mysterious budget-killing side effect – Financial Post Op-Ed
COVID-19 is hurting more than our health. It has crushed our economy. And it is straining our governing institutions. A case in point is the federal government’s refusal to table a budget.
The C.D. Howe Institute publishes an annual report on the fiscal accountability of Canada’s federal, provincial and territorial governments. Transparency about taxing, spending and borrowing is fundamental to representative government. Budget votes determine whether governments stand or fall. Legislatures must authorize spending through the estimates process. They need timely, full information to do their work.
The fiscal years of Canada’s senior governments run from April 1 to March 31. Governments that present budgets and…