A government deficit is sometimes necessary but we need plans in place to eliminate it and reduce the debt
Deficits have become emotive hot buttons. A deficit arises when governments spend more than their income, which consists mainly of taxes. If the deficiency is not immediately covered, current deficits turn into long-term government debt. No one seems to be neutral about deficits and the resulting debt. Traditional economists argue against them, saying that spending…
We are too dependent on two of our top three customers: the U.S. and China. And both of these are increasingly hostile
Canada relies on exports. In any given year, about 45 per cent of our economy is in foreign trade. For much of the past, our exports have been mainly in the agriculture and resources sectors. These are still important, but services (think international education), manufactured goods (e.g. Lululemon clothing) and technology (e.g. the Canadarm robotic…
Foreign students spent about $23.6 billion in Canada last year and much of that income will be lost as a result of COVID-19
Some industries are obvious victims of the COVID-19 pandemic and the resulting economic downturn. Everybody knows that businesses in the travel and hospitality sector, especially at the international level, have taken a serious if not lethal blow. Even with government aid, airlines, cruise ships, hotels and tourist attractions will have great difficulty rebuilding and even…
It not only generates jobs in the short term, but results in greater productivity, employment and tax dollars in the future
How the economy will be rebuilt in the wake of the COVID-19 pandemic is a major concern for us all. There are many unknowns, making the near future and the years ahead even murkier than usual. So uncertain is Canada’s federal government about economic and financial prospects that it’s not producing a budget, or even…
Regardless of how COVID-19 plays out, post-secondary institutions won’t go back to full-frontal classroom instruction
We still don’t know much about how the pandemic will affect our lives through the rest of 2020 and into 2021. But some things, like the impact on post-secondary education, are certain. As new and continuing post-secondary students are already aware, their education in the 2020-21 academic year will be delivered mainly, if not entirely,…
We’re still far from solving the problem of the pervasive pandemic that has overturned aspects of our lives in ways we never imagined. It has made a mockery of everything we thought we had some control over, from our mental stability to our monetary security. After months of lockdown limitations, we’re no closer to the…
The pendulum of public attention is beginning to swing from getting through the pandemic to economic recovery. But recovery is not a simple process. Governments and health authorities are planning or actually beginning to implement the gradual and much-awaited loosening of lockdown restrictions. COVID-19 is nowhere near being vanquished and it will still be a…
For too long, Canada has failed to embrace many foreign-trained physicians. COVID-19 has exposed serious flaws in the system
A corner has been turned in the COVID-19 pandemic, even if serious questions linger. Although we still don’t know how long the pandemic will last, we’re beginning to see more ideas on what the world will look like once we’ve put this behind us. When that will be or how we will get there is…
The economy will bounce back, even if some businesses don’t. But don’t expect a rapid recovery after COVID-19 recedes
What will happen to the economy once we get through this pandemic? We’re coping day to day with social isolation and, for those of us lucky enough to still have work, the challenges of working from home or being out there in an infected world. First, we want to know when all this will end.…
We need leaders who are smart, recognize people’s needs and do something positive to meet them
News about the COVID-19 virus has gone viral. Media coverage, ever-changing and often contradictory, screams at us from all directions. It inundates us as we work from home, self-isolate or have isolation thrust upon us. At times like this, we would do well to remember that life continues beyond the pandemic, even if the current…
Deficits have become emotive hot buttons. A deficit arises when governments spend more than their income, which consists mainly of taxes. If the deficiency is not immediately covered, current deficits turn into long-term government debt. No one seems to be neutral about deficits and the resulting debt. Traditional economists argue against them, saying that spending…
