He's right to criticize Trudeau for borrowing too much money. But he has a credibility problem
Conservative Party Leader Erin O’Toole wants to blast Prime Minister Justin Trudeau over inflation. And the prime minister is certainly vulnerable as rising prices at the gas pump and grocery store illustrate the risks of runaway government spending. But using O’Toole’s policies to fight inflation would be like using gas to put out a fire.…
Emissions going up despite the province having the highest carbon taxes in North America
Carbon taxes are an expensive failure when it comes to reducing emissions Emissions in British Columbia are going up despite the province having the highest carbon taxes in North America. Think you’ve read this before? That’s because this keeps happening. If the definition of insanity is doing the same thing over again while expecting a…
It’s possible to live a principled life, working hard to make a better world and still enjoy relative comfort
Growing up Christian in an affluent society, there was a passage from scripture that always left me perplexed: “No one can serve two masters. For you will hate one and love the other. … You cannot serve God and money.” (Matthew 6:24) Did this mean that I was to sell all I owned and become…
Online financial education is changing the game, threatening to impact financial advisers
One-third of Canadian millennials prefer going solo when it comes to managing and investing their money. Online financial education and tools are changing the rules of the game, threatening to affect financial advisers in the same manner emails impacted mail carriers. A recent poll conducted by Finder.com revealed that 33.7 per cent of millennials prefer…
Those who care about the climate act; those who care about blah blah blah will all be in Glasgow
The Cop26 climate summit starts in Glasgow, UK, on October 31, and countries must deliver tougher pledges to cut emissions to keep the goal of 1.5C within reach. According to the UN, carbon emissions will rise by 16 per cent by 2030, rather than fall by half as governments previously agreed to in Paris at…
Our ratio of net debt to GDP is almost as high as it was in 1995 when Canada was really in a fiscal crisis
The Liberals made some big spending promises during last month’s election campaign, amounting to $78 billion in new spending over the next five years. These promises come on top of the existing baseline, which was already no model of austerity. The federal budget was bloated before the pandemic, and even after excluding some necessary public…
More than 35.5M tonnes of food is thrown out yearly in Canada and rescuing food is getting more attention
Many people claim the term’ food waste’ should never be used and there’s some truth to that. Food is precious and is always of value to someone, somewhere. Associating food with the term ‘waste’ can only imply that food can become worthless. We can compost it, use it to produce biofuels and, of course, repurpose…
More of the same
What does another Trudeau win mean for Western Canadians? After all, the actual composition of the House of Commons changed little, and once again, the Liberals will need the support of either the NDP or the Bloc Quebecois to pass legislation. So, for the most part, we can expect a continuation of some programs, including…
We're deluded if we believe that the consequences will only be borne by workers in the oil and gas sector
Shortly before the election was called, the federal government launched an engagement process to determine how Canadians want to implement a 'Just Transition' to a net-zero carbon economy. To the government, this means developing supports for the oil and gas workers whose livelihoods are being impacted by domestic climate policies. A 'Just Transition Advisory Body'…
Governments have to stop giving in to populist pressures
Now that the federal election is over, several financial sector experts and economists are turning their attention to the Trudeau government’s promise to raise the corporate income tax rate for banks and insurance companies from 15 per cent to 18 per cent. But while attacking these financial giants can pay off politically, the fact is…
The continued reliance on cash is a symbol of good governance
When I audited an economics class in the Rice University School of Business, the lecturer compared inflation to slow-growing cancer and deflation to a heart attack. The implication was that deflation – declining prices – is fatal and worse than inflation. This Keynesian fearmongering, which empowers central banks to water down currencies, is common but…
Very. But you wouldn't know it from StatsCan data
If you think food prices are increasing at a much faster pace than what Statistics Canada suggests, you’re likely not imagining it. For a few years, many Canadians have suspected that the federal agency was either underestimating our food inflation or there was some lag between what was going on at the grocery store and…
None of the major parties have a realistic plan to get the nation’s finances in order
Politicians have made promises that will cost tens of billions of dollars during this election. But when it comes time to open their wallets to pay the tab, these party leaders are running to hide in the bathroom while taxpayers cover the bill. Politicians and taxpayers both need to understand a simple truth: there is…
If the sector disappeared, taxes would have to be increased substantially to provide us with the services we have come to expect
By Mark Milke and Lennie Kaplan Canadian Energy Centre Between 1969 and 2019, Canadian parents received $499 billion in family allowance payments and children’s benefits from the federal government. That 50-year cost was matched by $505 billion in revenues to governments from the oil and gas sector – except that such taxpayer cash was collected…
Without taxes, the price of gas per litre today would be sitting at 92 cents
Hardworking taxpayers are facing record-high gas prices, and politicians are the culprits driving up the bills. In Ontario, up to 38 per cent of the price of gas that we are charged at the pumps comes from taxes, according to a report released by the Canadian Taxpayers Federation. And that percentage is only set to…