Spending Sprees: The 2016 Score Card On Government Financial Reporting
Canada’s federal, provincial and territorial governments have cumulatively spent $69 billion more than budgeted over the past 15 years, according to a new C.D. Howe Institute report. In “Controlling the Public Purse: The Fiscal Accountability of Canada’s Senior Governments,”…Kevin Milligan Re-appointed As A Fellow-in-residence And Academic Advisor, C.D. Howe Institute’s Fiscal And Tax Competitiveness Program
William Robson, President and CEO of the C.D. Howe Institute, announces the re-appointment of Kevin Milligan, Professor of Economics at the University of British Columbia, as a Fellow-in-Residence and Academic Advisor, C.D. Howe Institute’s Fiscal and Tax Competitiveness Program…Controlling the Public Purse: The Fiscal Accountability of Canada’s Senior Governments, 2016
Canada’s federal, provincial and territorial governments have cumulatively spent $69 billion more than budgeted over the past 15 years, according to a new C.D. Howe Institute report. In “Controlling the Public Purse: The Fiscal Accountability of Canada’s Senior Governments,” authors Colin Busby and William B.P. Robson grade the performance of governments in hitting their budget […] C.D. Howe Institute Monetary Policy Council Calls for Bank of Canada to Hold Overnight Rate at 0.50 through 2016; Looks for 0.75 Percent by April 2017
April 7, 2016 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada keep its target for the overnight rate, the very short-term interest rate it targets for monetary policy purposes, at 0.50 percent at its next announcement on April 13, 2016. Looking ahead, the Council called for the Bank to hold the target at 0.50 percent through the end of the year, raising it to 0.75 percent by April 2017.
The MPC provides an independent assessment of monetary stance consistent with the Bank of Canada’s 2 percent inflation target. William Robson, the Institute’s President and CEO, chairs the Council.
Council members make recommendations for the Bank of Canada’s upcoming…
Canada Is Being Sued By U.S. Investors, But It’s Not As Bad As It Looks: Globe And Mail Op-ed
The federal government announced last week that it would pay Mobil Investments and Murphy Oil about $19-million to satisfy a decision made by a NAFTA investment arbitration panel last year.
The tribunal found that certain guidelines of the Canada-Newfoundland Offshore Petroleum Board were discriminatory and thereby breached Canada’s obligations under the North American free-trade agreement. Although the government is disappointed with the decision, the $19-million payment is a small amount measured against the $66-million originally claimed by these two companies.
While not earth-shattering in dollar terms, the case raises issues about Canada and investor-state dispute settlement provisions (ISDS), not only under…
Ontario math training needs a full revamp: Globe and Mail Op-Ed
Ontario Education Minister Liz Sandals has announced a $60-million plan to improve math training in elementary schools.
The move comes in response to declining scores in standardized math tests, which showed that the portion of Grade 6 students meeting provincial standards fell to 54 per cent from 61 per cent over a five-year period. In that same period, scores in reading and writing increased, suggesting that policies specific to math education caused the decline.
The Ontario government is to be commended for addressing the problem, but it is important to consider carefully what might be contributing to the decline and how it is best corrected. For example, what resources were used over the period of decline?…
How To Improve Cra Audits
April 5, 2016 – There is room for improvement in the Canadian Revenue Agency’s (CRA) auditing process, according to a new report from the C.D. Howe Institute. In “Auditing the Auditors: Tax Auditors’ Assessments and Incentives,” author Kenneth J. Klassen proposes that, in addition to traditional…Auditing the Auditors: Tax Auditors’ Assessments and Incentives
There is room for improvement in the Canadian Revenue Agency’s (CRA) auditing process, according to a new report from the C.D. Howe Institute. In “Auditing the Auditors: Tax Auditors’ Assessments and Incentives,” author Kenneth J. Klassen proposes that, in addition to traditional measures, the CRA adopt a new metric of success: the ultimate taxes paid […] Åke Blomqvist Re-appointed As A Fellow-in-residence And Health Policy Scholar, C.D. Howe Institute
William Robson, President and CEO of the C.D. Howe Institute, announces the re-appointment of Åke Blomqvist, Adjunct Research Professor at Carleton University, as a Fellow-In-Residence and the Institute’s Health Policy Scholar. “Åke is deeply knowledgeable about healthcare…A National Carbon Tax Is The Better Way To Square The Liberals’ Deficit Circle: Globe And Mail Op-ed
There are good arguments for running a deficit this year. Beyond the case for particular programs is the context of low interest rates, due to international financial market conditions and to Canada’s history of fiscal rectitude over the past two decades.
So far, so good. But last week’s federal budget projects a cumulative $100-billion deficit over the life of this Parliament, and no date for a balanced budget. That is not so good. Among those with a memory of the wrenching fiscal austerity of the mid-1990s, it raises the misgiving that Prime Minister Justin Trudeau’s government is returning to the lax fiscal attitudes of governments led by his father, Pierre Trudeau, and by Brian Mulroney. Under their leadership, Canada became…
Mounting Evidence: Findings from Natural Experiments in Inflation Targeting
International evidence shows the wide economic benefits of inflation targeting, says a ground-breaking C.D. Howe Institute report. In “Mounting Evidence: Findings from Natural Experiments in Inflation Targeting,” author Michael Parkin shows how the evidence broadly supports the merits of inflation targeting as a monetary policy tool for central banks that have clear independence.