Despite promises to end the reliance on resource royalties, Rachel Notley's government keeps piling up the debt and looking to the same revenue source
By Ben Eisen and Steve Lafleur The Fraser Institute Before forming government, Rachel Notley and the Alberta NDP vowed to get the province “off of the resource revenue roller-coaster.” So it’s ironic that now-Premier Notley’s third budget promises to take the province on yet another ride. Her government’s vague and risky “path to budget balance”…
The slow path to balance means the province will continue adding debt by the bucketful for many years, penalizing future taxpayers
By Ben Eisen and Steve Lafleur The Fraser Institute The Alberta government’s 2018 budget figures would be shocking if Albertans weren’t already accustomed to such numbers. The operating deficit is expected to be $8.8 billion in 2018-19, down slightly from its peak of $10.8 billion two years ago. It’s difficult to contextualize such a large…
Despite an improving economy, the provincial government still projects $9.1-billion deficit
By Steve Lafleur and Ben Eisen The Fraser Institute The Alberta government recently released its third-quarter fiscal update. While the update contains some good news about the economy, the outlook for provincial finances remains dire. The government expects a $9.1-billion deficit this fiscal year and it has no intention of balancing the budget until 2023-24. First, the…
Instead of targeting affordable housing, B.C. government should be targeting housing affordability
By Josef Filipowicz and Steve Lafleur The Fraser Institute The B.C. government’s recent budget included a 30-point plan aimed at the province’s housing woes. The aim was off the mark. Most of the plan’s points fit into two broad categories: reducing demand by raising property transfer taxes, for non-residents and on homes over $3 million,…
Albertans have more debt, continued reliance on volatile natural resource revenue and higher taxes to look forward to
By Steve Lafleur and Ben Eisen The Fraser Institute The Alberta government’s large and persistent budget deficits remain one of the most important policy problems facing the province. This year, the province expects another deficit of more than $10 billion and forecasts call for a nearly identical deficit next year. The government of Premier Rachel Notley is…
The battle between Alberta and B.C. over the Trans Mountain pipeline expansion has broad implications for all Canadians
By Steve Lafleur and Ashley Stedman The Fraser Institute The governments of Alberta and British Columbia are waging an intense trade dispute over the proposed Trans Mountain pipeline expansion, which would run between Edmonton and Burnaby. But the implications extend far beyond those two provinces. The details of the feud have been well-documented. After B.C.’s…
Unfortunately, to bolster Alberta’s tax competitiveness will require meaningful action to repair the province’s once sterling finances
It’s time for Alberta to work towards regaining its former tax advantage. Until recently, the province was known for having the lowest personal and corporate income tax rates in Canada. In fact, in 2014 Alberta had the lowest combined federal/provincial top personal and corporate income taxes of any jurisdiction in Canada or the United States.…
As homes age, they should filter through various socio-economic strata. But construction approval roadblocks slow that process to a crawl
By Josef Filipowicz and Steve Lafleur The Fraser Institute The federal government’s new National Housing Strategy will benefit specific groups but doesn’t target broader affordability issues in Canada’s most expensive housing markets. The strategy includes a portable “housing benefit” of $2,500 per year, on average, to low-income households. It also proposes the construction or renovation of hundreds…
Calgary’s new city council must encourage secondary suites, remove parking requirements and streamline the housing permit process
By Steve Lafleur and Josef Filipowicz The Fraser Institute Calgary Mayor Naheed Nenshi won a third term last month, giving him four more years to address the city’s most pressing issues, including housing. Many Calgarians – like many Vancouverites, Torontonians and other Canadians – worry about housing affordability as the city continues to grow. Among…
Incentive packages often include tax breaks on property, income or permit exemptions – and taxpayers pay the freight
By Josef Filipowicz and Steve Lafleur Fraser Institute Amazon’s recent announcement that it plans to open a second North American headquarters has sparked a mad scramble by communities seeking a huge economic payoff. But some notes of caution need to be sounded. The new Amazon headquarters are expected to house up to 50,000 “high-paying jobs” and add…
By Ben Eisen and Steve Lafleur The Fraser Institute Before forming government, Rachel Notley and the Alberta NDP vowed to get the province “off of the resource revenue roller-coaster.” So it’s ironic that now-Premier Notley’s third budget promises to take the province on yet another ride. Her government’s vague and risky “path to budget balance”…
