Almost 24 per cent now cutting back on food purchases, almost 70 per cent of whom are women
While inflation is showing signs of dissipating, food inflation appears to be on a totally different path. Food inflation has outpaced our general inflation rate for over 12 months now. Statistics Canada just announced that the food inflation rate for retail was 10.8 per cent and 7.4 per cent in food service. Canada ranks third…
Both sectors face inflationary pressures but are being dealt with very differently
As anyone who has ever spent time in the kitchen knows, when a pot is boiling over, you do not put a lid on it. You lower the heat. Adding a cover does nothing to reduce the cause of all the excess bubbles and steam. In fact, increasing the pressure within the vessel generates an…
Increases to the Marginal Effective Tax Rate taking even more of your hard-earned money
New Conservative leader Pierre Poilievre is correct when he says governments discourage work with taxes and clawbacks. The Marginal Effective Tax Rate (METR) measures what government takes from each new dollar earned in taxes and clawbacks of income-related government benefits. In his leadership acceptance speech and an August 19 video called “Make work pay,” Poilievre…
Ottawa does not fully understand the consequences of its policy
By Nathalie Elgrably-Levy and Valentin Petkantchin The federal government’s new luxury goods tax, which took effect on September 1, targets luxury cars, private jets and yachts. Without originality, it is part of the traditional logic of taxation which aims to “make the rich pay.” However, we often forget the economic, indirect and longer-term effects, which…
The method StatsCan uses to measure inflation bears no relationship to the reality Canadians face
By Nathalie Elgrably-Lévy and Valentin Petkantchin For several months now, rising prices have dominated public consciousness and raised anxiety in most households. Not for decades has Statistics Canada’s monthly inflation rate indicator been awaited with such rapt attention. This indicator is much like a thermometer monitoring a patient’s fever while under observation. Related Stories Food…
Alberta is the only province with no PST, saving its people billions of dollars per year
Here's the good news: the majority of United Conservative Party leadership candidates have pledged not to impose a Provincial Sales Tax (PST) or raise taxes on Albertans. Six UCP leadership candidates signed the Canadian Taxpayers Federation Pledge, which reads: "I will never impose a Provincial Sales Tax and I will not raise taxes." All of…
It’s time for Ottawa politicians to take deficits seriously again
There’s finally some good news for taxpayers: Instead of balancing the budget in 2070, the Parliamentary Budget Officer’s numbers now show Canadians can look forward to a balanced budget in only … wait for it … 20 years. Last year the Canadians Taxpayers Federation used PBO data to show the feds wouldn’t balance the budget…
America is taking a tentative step to help students. Canada needs to do the same
American President Joe Biden is wiping US$10,000 in federal student loan debt for those with incomes under $125,000 a year or households that earn less than $250,000. He is also cancelling an additional $10,000 for students who received federal Pell Grants to attend college. For context, more than 45 million Americans collectively owe over $1.7…
New or enhanced federal tax credits for surrogacy, first-time home buyers, and renovation expenses for multigenerational households moving ahead
Planning for the future can have many benefits if you know what’s up for grabs and can take advantage of programs and incentives. The federal Liberal government’s plans for new or enhanced tax credits for surrogacy, first-time home buyers, and renovation expenses for multigenerational households are moving ahead. The federal Department of Finance recently announced…
Some trouble spots include dairy and bakery goods
Statistics Canada is reminding Canadians every month this year how painful their trips to the grocery store are. The retail inflation rate is at an astonishing 9.9 per cent, its highest point since 1981. And food inflation has exceeded the general rate since last December, which is why food prices are on everyone’s mind. Allegations…
The first problem with ESG is the lack of firm, objective, and uniform standards, criteria and targets
The adoption of environmental, social and governance (ESG) standards by institutional investors is ultimately a form of woke and green social credit scoring for corporations. It is meant to cajole, if not compel, investible companies to adhere to rigid rules and criteria established by investors or outside entities, such as consultants, to satisfy so-called climate…
Canadians must rediscover the need to link government spending with revenues
The rapid expansion of government in Canada over the past decade produced an unintended experiment in the role of the state in our lives. The pandemic in particular liberated governments to expand programs, spending and interventions in a manner unprecedented outside of wartime. As Canadians get a front-row look at life in a society defined…
Nova Scotia Premier Tim Houston put a stop to a pay hike for MLAs and cut his own salary. Now for Part 2
Nova Scotia Premier Tim Houston got a big hit for taxpayers by putting a stop to a pay hike for MLAs and cutting his own salary. Now Houston has an opportunity to convert his single into a home run by ending the automatic tax hikes associated with bracket creep. Last month, an independent panel created…
The Canadian Dairy Commission is morally and ethically compromised. It needs to distance itself from the dairy sector immediately
Every year, the Canadian Dairy Commission (CDC), a branch of the federal government, hires external consultants to assess the cost of producing milk on the farm. The CDC has never released any data about costing and has recommended farm milk price increases most years, eventually impacting retail prices and Canadian families. Since February, dairy product…
Taxpayers could get soaked with higher taxes and reckless government spending
Ontario Premier Doug Ford’s promise to hand the mayors of Toronto and Ottawa more powers could be a dangerous gateway to higher taxes and runaway government spending. Hardworking taxpayers wouldn’t trust one person selected by someone else to unilaterally manage their household expenses and retirement savings. Yet, that’s essentially what Ford might have up his…