Federal tax hikes would do more harm than good

Our high income tax rates discourage productive economic activity and put Canada at a competitive disadvantage

Federal tax hikes would do more harm than goodBy Jake Fuss and Tegan Hill The Fraser Institute On July 8, the government of Prime Minister Justin Trudeau will release a “snapshot” of federal finances, the first such update since the COVID-19 crisis began. The government may also soon look to raise taxes to try to increase government revenue, either to finance new spending…

Toronto has more important priorities right now than a $3.8-billion park

Toronto has more important priorities right now than a $3.8-billion parkToronto Mayor John Tory announced he’d have to make “terrible and devastating” cuts if the federal and provincial governments didn’t pony up cash to help the city fill its $1.5-billion budgetary void left in the wake of COVID-19. Astonishingly, after begging for money, the mayor’s pet project, Rail Deck Park, is still going ahead. Tory’s mega-park scheme is…

Ontario should cut government jobs to end cycle of debt

The Ontario government must take decisive action to get the budget under control when the COVID-19 crisis has passed

Ontario should cut government jobs to end cycle of debtOntario is the most indebted sub-sovereign borrower in the world. Interim financial results for the 2019-20 fiscal year show that the Ontario government ran a $9.2-billion deficit. According to estimates from economists, the deficit is likely to more than triple, largely as a result of the COVID-19 pandemic and economic lockdown, to around $29.3 billion…

Nova Scotia government faces debt tidal wave

Rising government debt can dampen economic growth and divert billions of dollars away from important public priorities

Nova Scotia government faces debt tidal waveBy Jake Fuss and Alex Whalen The Fraser Institute Just three months ago, provincial Finance Minister Karen Casey released a budget projecting an operating surplus, which would have been the Nova Scotia’s fifth consecutive balanced budget. However, due to COVID-19, circumstances have changed dramatically and the province now expects to run a large deficit this…

Manage provincial debt by controlling Crown projects

In Newfoundland and several other provinces, major power projects have created huge public debt

Manage provincial debt by controlling Crown projectsThe province of Newfoundland and Labrador is staring bankruptcy in the eye, according to recent news reports. There are a variety of reasons, which are typical for provincial politics. Politicians hate to cut services, love to cut taxes and hate to increase taxes because voters react to all of those things. Politicians aren’t leaders, they’re…

Canada’s debt is piling up again

Our ability to deal with the economic effects of COVID-19 is really a fiscal dividend from the actions of earlier governments

Canada’s debt is piling up againCanada was born in debt and continues to cycle back into deficit spending. According to the Parliamentary Budget Office, the 2020-21 fiscal year may see a federal deficit of over $250 billion. This follows deficits of $14 billion for 2018-19 and nearly $27 billion in 2019-20, based on the federal fall 2019 update. Given a…

No, the government spending spree can’t go on for ever

The notion that we can pile on debt ad infinitum is at the very least counterintuitive. In fact, it just seems reckless

No, the government spending spree can’t go on for everCanada’s federal and provincial governments have rightfully focused on doing all they can to support people and businesses idled by the COVID-19 pandemic, and to keep people working where possible. But most advocates of aggressive spending always knew there would come a day of fiscal reckoning, in which we’d have to figure out how to…

Capital gains tax hike would cripple investment

Increasing the federal tax would be anti-investment, anti-entrepreneurship, anti-innovation and anti-green

Capital gains tax hike would cripple investmentBy Niels Veldhuis and Jake Fuss The Fraser Institute At a time when the country faces momentous economic challenges, it’s hard to think of a more damaging policy than a capital gains tax hike. Yet rumours persist that prior to the COVID-19 crisis and economic downturn, that’s exactly what the federal government planned to do.…

Government debt piling up for Ontarians

Blame economic contraction due to COVID-19 and increased government spending at the provincial and federal levels

Government debt piling up for OntariansOntario’s provincial government now carries more net debt per person than any province except Newfoundland and Labrador. In a reversal of historical norms, Ontario carries significantly more debt – almost $4,000 more per person – than Quebec. Of course, debt (financial assets minus total liabilities) means interest payments. But Ontarians aren’t just responsible for interest…

Will Canada ever pay off the cost of COVID-19?

Very few people have focused on the financial aftermath of the flatten-the-curve pandemic strategies. It’s time we did

Will Canada ever pay off the cost of COVID-19?It has become routine for Canadians to listen to the daily national COVID-19 briefing. We wait to learn about the current state of affairs and whose turn it is to receive financial aid. A million here, a billion there. The programs include: $300 billion to the Office of the Superintendent of Financial Institutions to free…

Act now to end Alberta’s economic nightmare

Canada’s recovery will depend on government policies that actively encourage, rather than impede, resource investment

Act now to end Alberta’s economic nightmareAlbertans are living a five-year nightmare that just keeps getting worse. The nightmare started in 2015 when newly-elected Prime Minister Justin Trudeau appointed Gerald Butts, head of the Canadian arm of the anti-fossil-fuel World Wildlife Fund, as his principal secretary and key adviser. A year later, Trudeau cancelled the previously approved Northern Gateway Pipeline destined…

With tough times ahead, MPs need to cut their pay

With tough times ahead, MPs need to cut their payAs we struggle to contain COVID-19, virtually everyone is paying the price while the economy faces an unprecedented storm. Many members of Parliament are sharing in that sacrifice by donating their automatic pay raise to charity. The rest need to follow that example. And all MPs need to take the next step. Nearly six million…

Canadians get too little value for their taxes

Whether on corporate income, labour, international trade or anything else, taxes in Canada impose a huge economic cost

Canadians get too little value for their taxesAs Canadians prepare their tax returns, it’s fair to ask if we get good value for all the taxes we pay. We have a little extra time to ponder this, since the federal government has given Canadians another month to file tax returns as a result of the COVID-19 pandemic, to June. 1. So do…
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