Konrad von Finckenstein – How we can save NAFTA’s Chapter 19
From: Konrad von Finckenstein To: The Honourable Chrystia Freeland, Minister of Global Affairs Date: August 1, 2017 Re: How we can save NAFTA’s Chapter 19 The summary of objectives for NAFTA renegotiation issued by the US Trade Representative on July 17 is blunt: “Eliminate the Chapter 19 dispute settlement mechanism.” It is worthwhile to recall that in the original […]The Power of Words: Improving Immigrants’ Literacy Skills
Ottawa should strengthen the screening process to improve the literacy skills of immigrants, states a new report from the C.D. Howe Institute. In The Power of Words: Improving Immigrants’ Literacy Skills, author Parisa Mahboubi argues that Canada needs to improve selection policies for immigration screening, either by giving more weight to language proficiency or by […] Edward J. Waitzer Appointed As A C.D. Howe Institute Senior Fellow
William Robson, President and CEO of the C.D. Howe Institute, announces the appointment of Edward J. Waitzer (left), former Chair of Stikeman Elliott LLP, as a Senior Fellow. “Ed stands out for his legal insights, his knowledge of business and finance, and his keen…Mortgage Insurance Deductibles: An Idea Whose Time Hasn’t Come: Globe And Mail Op-ed
The rise in house prices – especially in Toronto and Vancouver – has coincided with a build-up of risks in the mortgage market and homeowners taking on too much debt relative to their income.
In response, the federal Department of Finance has proposed shifting some of the risk of mortgage defaults onto lenders from insurers, through a mortgage insurance deductible that would come out of the lender’s pocket in the case of mortgage default. Good intent. Bad idea.
The hope is that by shifting some of the potential losses from mortgage defaults onto lenders, a deductible would reduce the number of risky mortgage loans originated by lenders. But introducing a mortgage insurance deductible is a blunt and ineffective tool that…
Pierre L. Siklos – Should We Revisit Monetary Policy to Consider a Financial Stability Link?
From: Pierre L. Siklos To: Minister of Finance Date: July 28, 2017 Re: Should We Revisit Monetary Policy to Consider a Financial Stability Link? In his letter to the Minister of Finance regarding the most recent renewal of the inflation target, dated 21 September 2016, Governor Poloz wrote that: “We conclude that monetary policy should […]Pierre L. Siklos – For Central Banks, it’s a Question of Credibility
From: Pierre L. Siklos To: Minister of Finance Date: July 27, 2017 Re: For Central Banks, it’s a Question of Credibility Central bankers have become fond of repeating to the public that they were, and are, following a flexible rule for setting interest rates in response to movements in inflation or the amount of slack […]Omran, Robson, and Busby – It’s Midsummer: Where are the Public Accounts?
From: Farah Omran, William Robson and Colin Busby To: Canada’s Finance Ministers Date: July 25, 2017 Re: It’s Midsummer: Where are the Public Accounts? It’s July 25, and only one province, Alberta, has tabled its public accounts for the 2016/17 fiscal year. Legislators, taxpayers and voters should not have to wait so long for governments’ […] Finnie, Mueller, and Sweetman – Education is Key to Immigrant Integration in Canada
From: Ross Finnie, Richard E. Mueller, and Arthur Sweetman To: Provincial Ministers of Education and Immigration; Minister of Immigration, Refugees and Citizenship Canada Date: July 24 2017 Re: Education is Key to Immigrant Integration in Canada For 2017, Canada increased its permanent immigration target to almost 1 per cent of the population. And, happily, the […] Ben Dachis – Airport Overhaul Readying for Takeoff
From: Benjamin Dachis To: Marc Garneau, Minister of Transport and Bill Morneau, Minister of Finance Date: July 21, 2017 Re: Airport Overhaul Readying for Takeoff Congratulations. The revelation this week that you are proceeding with the study of selling equity stakes in airports is good news indeed. It took an access-to-information request, but CBC has […]Ottawa Should Put More Focus On Education Quality For Immigration Screening
Policymakers must find innovative ways to improve immigrants’ likelihood of finding well-paid employment, states a new report from the C.D. Howe Institute. In “Education Quality and Immigrants’ Success in the Canadian Labour Market,” author Qing Li finds that the earnings of…Education Quality and Immigrants’ Success in the Canadian Labour Market
Policymakers must find innovative ways to improve immigrants’ likelihood of finding well-paid employment, states a new report from the C.D. Howe Institute. In “Education Quality and Immigrants’ Success in the Canadian Labour Market,” author Qing Li finds that the earnings of foreign-trained immigrants in Canada are linked not only to the level of their education, […]