2023 budget finally limits vampire consulting firms in the public service

2023 budget finally limits vampire consulting firms in the public serviceUnder the Liberals, the cost of consulting firms has mushroomed from $8.4B in 2015 to an estimated $21.4B this year By David Macdonald and Jon Milton There’s a hidden gem in the recent federal budget: the federal government is finally placing some limits on high-priced consulting firms. The feds aim to cut $7.1 billion from…

Bank of Canada’s interest rate strategy is failing Canadians

Bank of Canada’s interest rate strategy is failing CanadiansThe data shows that interest rate hikes are now increasing inflation, not decreasing it After nearly a year of interest rate hikes designed to fight inflation, rents in Canada are going up, and food costs remain stubbornly high. And while they might have helped in the summer of last year, interest rate hikes are now…

CERB repayment fiasco risks ruining a modern approach to federal transfers

CERB repayment fiasco risks ruining a modern approach to federal transfersGetting benefits directly and immediately from the CRA website is the way of the future When COVID-19 hit in 2020, the federal government responded by doing something it hadn’t done at scale in a long time – deliver cash transfers in entirely new ways. As the feds doled out relief funds, more government support went…

Summertime and inflation ain’t easy

Controlling inflation with interest rates can work, but at a terrible cost

Summertime and inflation ain’t easySummer heat isn’t the only thing making Canadians sweat this summer; abnormally high inflation and rising interest rates are putting the heat on many Canadians. We’ve gone from 0 per cent inflation in August 2020 to 8.1 per cent in June 2022. That’s really fast. The last time we saw anything like it was 1970-73…

Canada’s richest companies riding the inflation gravy train

Some corporations are doing better than ever while Canadians struggle with skyrocketing cost of living. Let’s tax them

Canada’s richest companies riding the inflation gravy trainInflation in Canada is the highest it’s been since the 1990s, but the reason behind the rising cost of living is different this time and rich corporations are part of the story. Canada hit a new all-time high in corporate profits between October and December last year – $139 billion in pre-tax profits, to be…