Op-Eds
What explains surging inflation in Canada and many other advanced economies? Most commentators — correctly — blame loose monetary policy. That contrasts with the 1970s and 1980s, when many people argued inflation was not something central banks could control and that tight money was therefore a case of pain for no gain. With the Bank of Canada and other central banks beginning to tighten, those arguments may return. If they prevail, monetary policy will stay too loose and inflation will keep raging.
Inflation is another term for a persistent decline in the value of money, which like most values is determined by supply and demand. If the Bank of Canada promotes growth in the supply of Canadian dollars that exceeds growth in the…
The budget that federal Finance Minister Chrystia Freeland will present shortly will reveal whether the government is serious about putting the national finances on to a sustainable track.
There is room for doubt. Since 2015, the government had been running deficits larger than it promised, and larger than a strong economy justified. Then it responded to the COVID-19 pandemic with debt-financed spending on an unprecedented scale.
To assuage concerns about soaring federal debt – concerns heightened by the government’s equally unprecedented failure to present a budget at all in 2020 – the Finance Minister introduced a new concept in the government’s fall economic statement that year: fiscal…
The latest C.D. Howe Institute annual report card on municipal financial reporting in Canada featured a dismal coincidence.
Regina and Saskatoon had the worst grades among the 31 cities whose budgets and annual reports we look at — the only Fs in the group.
Is there something about Saskatchewan — something in the water or the air — that condemns Regina and Saskatoon to fail this test of transparency and accountability? Does the C.D. Howe Institute have it in for Saskatchewan?
No and no — and for proof, Regina and Saskatoon don’t need to look far to see how to improve their marks. Not to Vancouver, which topped the cities class with A+, nor to Surrey or Quebec City, with As, nor to Richmond or Markham or Vaughan,…
The Liberal government reintroduced its controversial internet regulation bill on Wednesday, and it is likely to bring forward its “online harms” legislation, which also caused concerns, in the weeks to come. A Heritage Canada report released Thursday documented the concerns about the government’s initial approach on this issue.
Last year, then-Heritage Minister Steven Guilbeault found himself facing steep opposition to his plans to roll out online harms legislation that was meant to address hate speech as well as sexually exploitative content and material that promoted terrorism. As former leaders at the CRTC who have closely watched this debate, we think there’s a better way for the new heritage minister,…
On the calendar, 2021 is all but over. Yet come midnight Friday, the year will still feel unfinished. Notwithstanding vaccines and better knowledge about avoiding and treating COVID, the virus’ resurgence threatens more damaging lockdowns. A federal election billed as the most important since 1945 settled nothing. 2021’s economic numbers featured frothy consumption, housing and government spending, but far too little of the capital investment needed for sustained prosperity in 2022 and beyond.
The federal government’s economic policies provide stark examples of formal closure to the year but too much important work deferred. Several items — the inflation framework, the finance minister’s fall update, the release of the public…
