Improving on the CPI: A Proposal for a Better Inflation Indicator
The Bank of Canada should track inflation using a measure that better accounts for changes in resale housing prices, according to a new C.D. Howe Institute report. In “Improving on the CPI: A Proposal for a Better Inflation Indicator,” authors Finn Poschmann and Aaron Jacobs urge the Bank to shift its focus to a more appropriate […] Bank Of Canada Needs A Better Way To Track Inflation
The Bank of Canada should track inflation using a measure that better accounts for changes in resale housing prices, according to a new C.D. Howe Institute report. In “Improving on the CPI: A Proposal for a Better Inflation Indicator,” authors Finn Poschmann and Aaron…Is Canada in recession? These numbers suggest not: Globe and Mail Op-Ed
By Steve Ambler and Jeremy Kronick
Statistics Canada’s release of preliminary merchandise trade figures for June may provide some closure to the debate on Canada’s so-called recession. After a 4-per-cent fall in export volumes over the first five months of 2015, Canada’s sales to foreigners came roaring back, with a 4.8-per-cent increase in June alone. Imports also decreased in volume by 0.9 per cent from May to June.
Overall Canadian economic growth in the first quarter of 2015, as well as the first two months of the second quarter, was negative. The decline in the value of the Canadian dollar in the wake of falling world oil prices had been expected to boost the growth of most other exports, but until June, the…
Smooth transition needed for carbon pricing and free trade: Globe and Mail Op-Ed
By Christopher Ragan
Even if we weren’t in the middle of a federal election campaign, there would be several important policy issues being discussed this summer. One of the big ones is Canada’s part in the negotiations for the Trans-Pacific Partnership, a free-trade agreement with several Pacific Rim countries. Another is the development of carbon-pricing policies in Ontario and Alberta. Policy makers and ordinary Canadians alike should note that these policies have two big things in common, and one crucial difference.
Both free trade and carbon pricing are undertaken in the pursuit of a major, long-run prize. In the case of free trade, the prize is that our consumers get access to a wider range of products, often with…
John Crow Re-appointed As A Senior Fellow
William Robson, President and CEO of the C.D. Howe Institute, announces the re-appointment of John Crow, former Governor of the Bank of Canada, as a Senior Fellow. “John has made many key contributions to Canadian public life, including the…Making Free Trade Deals Work for Small Business: A Proposal for Reform of Rules of Origin
The high costs of complying with Rules of Origin (ROO) requirements mean that small and medium-sized firms (SMEs) often find it cheaper and more efficient to pay customs duties instead of producing the paperwork that would allow them access to preferential, often zero tariffs under trade agreements, according to a new report from the C.D. […] How Small Businesses Can Get A Better Deal Out Of Ftas
The high costs of complying with Rules of Origin (ROO) requirements mean that small and medium-sized firms (SMEs) often find it cheaper and more efficient to pay customs duties instead of producing the paperwork that would allow them access to preferential, often zero…Why trade rules for SMEs need reforms: Financial Post Op-Ed
By Dan Ciuriak
Lowering the rules of origin hurdle would boost trade, and enable more SMEs to enter into exporting
Most of Canada’s international traders are SMEs. Canada’s main trade policy tool today is the bilateral or regional free trade agreement (FTA), but FTAs come with administrative requirements, which put small and medium sized enterprises (SMEs) at a disadvantage in accessing their benefits compared to larger domestic competitors.
One important administrative requirement is to provide the necessary documentation to show that products satisfy the rules of origin provisions that restrict access to the reduced or zero tariffs of the FTAs. For some products, this is easy – a Canadian crop is Canadian.…
No turning back for Canada now that dairy protection is finally on TPP table: Globe and Mail Op-Ed
By Lawrence Herman
Once the genie is out, it’s nigh impossible to get it back into the trade negotiations bottle.
That’s what happened in the Trans-Pacific Partnership (TPP) trade talks in Hawaii last week when Canada finally offered concessions regarding its protectionist supply management system. Unfortunately, trade ministers from the 12 negotiating countries couldn’t cement a final deal in Hawaii. They got pretty close, but some tricky issues remain unresolved beyond the dairy sector – patent rights, automotive issues, investment disputes, among others.
Australia and New Zealand are pushing for greater access to the U.S. market in the TPP talks and the U.S., in turn, is demanding concessions from…
Why good governance matters: Globe and Mail Op-Ed
By John Richards
A small jurisdiction in a monetary union, with a debt that exceeds 100 per cent of its gross domestic product. Its bonds enjoy more-or-less junk status. An election brings to power a left-wing government that replaces its incompetent conservative predecessor. Members of the new government and its union allies are divided: Should they raise taxes and cut spending – or default, leaving the financial mess for others to clean up? Central agencies had provided some financial relief, but then they cut it.
Greece in 2015? No. Saskatchewan in 1991.
The parallel is not perfect. If the province defaulted, its residents would still use the Canadian dollar. Presumably, the federal government would assume the…
Why tolling carpool lanes is the right move for Ontario: Globe and Mail Op-Ed
By Benjamin Dachis
Love ’em or hate ’em, carpool lanes on Toronto highways look here to stay – having gained the endorsement of the Premier of Ontario. Tolling these carpool lanes is the way to go.
The Pan Am Games set the stage. The province installed 235 kilometres of temporary carpool lanes across the Greater Toronto Area. The province required that vehicles have three occupants to access them during July. For most of August, vehicles must have two occupants to access the lanes.
The Pan Am lanes were always billed as temporary. But the province has had long-standing plans to build carpool lanes across the region. The province has permanent carpool lanes on highways in Mississauga, Halton Region and north Toronto…