Deficits & Debt

— Sep 7, 2017
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Canada’s Past Fiscal Leaders Are Now Fiscal Laggards: An Analysis of 2017 Provincial Budgets

Canada’s Past Fiscal Leaders Are Now Fiscal Laggards: An Analysis of 2017 Provincial Budgets finds that Ontario and Alberta, which once boasted of having strong fiscal records, are now among the country’s most unsuccessful financial managers. And Quebec and Saskatchewan, which have both struggled in the past as weak fiscal performers, are now pursuing policies that are gradually improving the condition of their public finances.

— Aug 3, 2017
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Wishful Thinking: An Analysis of Ontario’s Timeline for Shrinking Its Debt Burden

Wishful Thinking: An Analysis of Ontario’s Timeline for Shrinking Its Debt Burden finds that Queen’s Park’s timeline for reducing the province’s historically high debt burden relies on optimistic and questionable assumptions and lacks a detailed, credible plan to achieve it.

— Jul 18, 2017
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Household Debt and Government Debt in Canada

Household Debt and Government Debt in Canada finds that, although household debt in Canada increased to more than $2 trillion in 2016—up from $357 billion in 1990—Canadian household assets (real estate, pensions, financial investments and equity in businesses, for example) also increased in value over the same time period to $12.3 trillion last year. But whereas recent increases in Canadian household debt have been accompanied by increases in net worth, the same cannot be said about government debt.

— May 30, 2017
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Race to the Bottom: Comparing the Recent Deficits of Alberta and Ontario finds that the Alberta government’s current string of budget deficits are 65 per cent larger, on a per person basis, than Ontario’s deficits following the 2009 recession, and Alberta—which was debt free until quite recently—is also catching up to Ontario’s per person debt levels.

— Mar 30, 2017
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Hold the Celebration

Hold the Celebration: A Balanced Budget Won’t End Ontario’s Fiscal Challenges finds that Ontario’s debt is expected to continue to grow—increasing by approximately $9 billion next year—despite the government’s promise to finally balance its budget next month. Currently, Ontario’s debt relative to the size of the provincial economy stands at approximately 40 per cent and is expected to hover close to this historically high level for the foreseeable future.

— Mar 7, 2017
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End of the Chrétien Consensus? is a new book that examines the pro-growth policies of Prime Minister Jean Chrétien’s federal Liberal government, Premier Roy Romanow’s NDP government in Saskatchewan and Premier Ralph Klein’s Progressive Conservative government in Alberta. The foundation of economic prosperity that it created lasted for more than a decade.

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