Higher taxes discourage business investment, business startups, entrepreneurialism and investment in education
By Jake Fuss and Tegan Hill The Fraser Institute Before Canadians go to the polls on Oct. 21, they should understand each party’s tax plan, which unfortunately range from bad to worse to downright naive. Let’s start with the NDP and Green Party, which have similar plans. Both propose a new “wealth tax” and would…
Liberal and Tory proposed tax cuts insufficient to improve Canada’s diminishing tax competitiveness
By Tegan Hill and Ben Eisen The Fraser Institute With less than a week before Canadians go to the polls, there has been little focus on Canada’s tax competitiveness, which is unfortunate given the major real-life impact of tax policy on Canadians. Yes, both the Conservative and Liberal party have pledged to cut personal income…
Any voluntary increase in spending by the federal government would further exacerbate the deficit
By Jake Fuss and Milagros Palacios The Fraser Institute Many economists have warned of a U.S. recession in the near future, in part due to the rise of trade protectionism, political turmoil and market volatility. Of course, a U.S. recession will also harm the Canadian economy and create significant problems for federal finances. So when…
Unnaturally high growth rates were driven by post-war reconstruction, the baby boom and rising female labour force participation
The single biggest determinant of long-term economic well-being is the rate of economic growth, but our expectations for modern growth may be misplaced. The industrial era, since the early 19th century, has seen powerful economic growth and unprecedented increases in living standards. Growth rates reached their peak in the postwar economic boom from 1945 to…
The rule of law and its protection of property form the bedrock of economic freedom, but pressures from mainland China put those attributes in peril
By James Gwartney and Fred McMahon The Fraser Institute In the Fraser Institute’s latest Economic Freedom of the World ranking, Hong Kong again tops the list as the world’s freest economy. It has occupied this position almost without exception through the past half century – but will it remain there? The foundation for Hong Kong’s…
Canada must cautiously approach any policy change that puts patients, innovation and innovative industries at risk
Justin Trudeau has promised, if re-elected, to introduce a national pharmacare program. But some cautionary notes must be sounded. The recent announcement was light on details but Trudeau cited his government’s advisory council on national pharmacare. In June, the council released its final report recommending Ottawa provide universal coverage for pharmaceuticals through a national formulary…
Ruling delaying the Trans Mountain pipeline once again makes it clear we need legislation to clarify what indigenous consultation means
By Ashley Stedman and Elmira Aliakbari The Fraser Institute In yet another example of the federal government’s failure to get Indigenous consultation right, the Federal Court of Appeal recently ruled that six of 12 legal challenges to the Trans Mountain pipeline expansion can proceed. The result? Canada’s energy sector will continue to face transportation constraints,…
When a dollar earned triggers higher taxes and simultaneously reduces benefits, what’s left to spend or save?
A look at effective tax rates across provinces shows that many low-income families in Canada take home 40 cents or less on the additional dollars they earn. The marginal effective tax rate – which accounts for how much you pay in additional income taxes and lose in federal and provincial transfer benefits when you earn…
Both countries partner with the private sector and expect patients to share the cost of treatment
By Bacchus Barua and Kristina Acri The Fraser Institute The Liberal federal government seems poised to propose a national pharmacare plan in time for the Oct. 21 federal election. Many proponents note that Canada is the only industrialized country featuring a universal health-care system that doesn’t provide universal coverage for prescription drugs. However, those same…
Public coverage in Quebec is not only more generous, but drug approval is more timely than anywhere else in the country
As the Oct. 21 election looms, the government of Prime Minister Justin Trudeau seems poised to make pharmacare a central issue of the campaign. In June, the Advisory Council on the Implementation of National Pharmacare, led by former Ontario health minister Eric Hoskins, tabled a report proposing a single-payer government-run universal drug plan in Canada.…