Federal government approach to finances anything but ‘prudent’

Leaving huge bills for future generations to pay

Federal government approach to finances anything but ‘prudent’By Jason Clemens and Jake Fuss The Fraser Institute Since coming to power in 2015, Prime Minister Justin Trudeau and his finance ministers have characterized their management of federal finances as “prudent,” an adjective meaning to act with or show care and thought for the future. Acting prudently would mean being judicious about borrowing and debt.…

The Alberta government is not taking too little from taxpayers

It’s time for Alberta’s politicians to start living within taxpayers’ means.

The Alberta government is not taking too little from taxpayersAlbertans have many legitimate beefs with their governments. They have municipal employees having pension parties on their dime. They have a federal government that is getting ready to hammer us with its second carbon tax. And they “have the most inefficient provincial government in Canada by a country mile,” to quote Premier Jason Kenney. But…

Trudeau taking the federal debt to infinity and beyond

The Trudeau government has taken the federal deficit from $19 billion to $381 billion in just nine months

Trudeau taking the federal debt to infinity and beyondIt’s official: the Trudeau government has taken the federal deficit from $19 billion to $381 billion in just nine months. That’s the staggering takeaway from Finance Minister Chrystia Freeland’s fall economic statement, and it means Canada’s total federal debt will for the first time shoot past $1 trillion in a few weeks. Critics will argue…

$2 billion(!) payment to dairy farmers all about politics

The Trudeau government is raiding our Covid-19 starved pockets to send $36 from each of us to rich dairy farmers

$2 billion(!) payment to dairy farmers all about politicsAgriculture and Agri-Food Minister Marie-Claude Bibeau chose a Saturday, hours before a long-awaited federal economic update, to offer more non-COVID-19-related compensation to Canada’s supply-managed farmers. Eighty-one per cent of dairy farmers are located in Quebec and Ontario. Compensation was expected but how it was done was a little strange. Few in the industry knew what…

How will we deal with our ever-rising national debt?

How do we sustain large deficits, wind them down and gradually slow the debt accumulation?

How will we deal with our ever-rising national debt?Ordinary Canadians have begun worrying about something that usually only ‘dismal scientists’ – i.e. economists – care about: our alarming federal and provincial deficits and exploding government debt. Putting an economy into lockdown was assuredly going to reduce tax revenues and increase transfers to individuals and businesses to ameliorate the devastation wrought by the COVID-19…

Why oil and gas are fundamental to Canada

The $493 billion in oil and gas revenues paid to governments since 2000 is more than family allowance and children’s benefits since 1970

Why oil and gas are fundamental to CanadaBy Mark Milke and Lennie Kaplan Canadian Energy Centre Humans are wired to respond to stories that paint a relatable picture of an issue at hand. And those stories are easier to remember. If we repeat a Rex Murphy story about how out-of-work cod fishery workers from Newfoundland saved their homes and marriages by moving…

Alberta’s debt was unsustainable even before COVID-19

Analysis shows Alberta must significantly reduce spending relative to the size of the economy or raise taxes

Alberta’s debt was unsustainable even before COVID-19By Tegan Hill and Ben Eisen The Fraser Institute The Alberta government will release a three-year fiscal update later this month, and will be tempted to blame the province’s fiscal challenges on COVID-19. In reality, Alberta’s finances were unsustainable long before the pandemic hit. While the COVID-19-induced recession has certainly contributed to the province’s eye-popping…

Canada moving towards U.S.-style ‘spend now, pay later’ government

Canadians love receiving government largesse, as long as someone else is paying for it, even if it is their kids

Canada moving towards U.S.-style ‘spend now, pay later’ governmentBy Jason Clemens and Milagros Palacios The Fraser Institute Pulitzer Prize-winning author George Will has repeatedly argued that, contrary to conventional wisdom, there is enormous consensus in Washington, D.C. – borrow today to finance spending and tax cuts but leave the costs (i.e. taxes) to the next generation. There are increasing signs that Canadians are…

Trudeau’s cavalier attitude towards debt is troubling

The prime minister needs to reconsider his love of debt before Canadians decide it is time for him to go

Trudeau’s cavalier attitude towards debt is troublingIt turns out that Prime Minister Justin Trudeau doesn’t think now is the time for a fiscal anchor to set some limits on government spending. That shouldn’t really surprise anyone, because he also didn’t think his first four years in office were the right time for one either. Most Canadians will recall Trudeau’s 2015 election…
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