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1. Lessons for the Ford Government from the 1995 Federal Budget

   Chronic deficits since the 2008/09 recession have weakened Ontario’s public finances. The province’s debt-to-GDP ratio—a key measure of fiscal sustainability—increased from 27.8 percent to an estimated 47.0 percent of GDP by the end of 2020/21. ...

2. Making sense of Canada’s $381.6 billion federal budget deficit

   The Trudeau government this week published its fall fiscal update for 2020. The headline-grabbing number emerging from the report was the government’s forecasted budget deficit for the year—$381.6 billion. As is often the case when it ...

3. Another broken promise—federal government ditches latest fiscal pledge

   By 2019/20, Canada’s debt-to-GDP ratio is forecasted to be 31.5 per cent. ...

4. What does the federal budget mean for Ontario?

   Appeared in the Toronto Sun, March 29, 2017 Last week, the Trudeau government released its 2017 budget. So what are the most important takeaways for Ontarians? Firstly, something we’re very familiar with in this province—growing government debt. The ...

5. Liberal spending increases drive big deficits, not a weak economy

   Appeared in the Financial Post, March 29, 2016 In advance of tabling their first budget, the Liberals conveyed a message that deteriorating government finances were the result of a weak economy. The reality of the budget is quite different from the ...

6. Budget 2016—spending is driving the deficits

   Leading up to their first budget, the Liberals argued that deteriorating economic conditions would require the government to run much larger deficits than had been promised. And the budget did indeed produce bigger deficits. But ...

7. Federal budget 2016—four key questions

   As the new Liberal government tables its first budget later today, here are some crucial questions for Canadians to consider: 1) Are the budget assumptions sound? As with any budget, the first thing to establish is whether the government ...

8. Troubled waters—Incentive-damaging tax hikes

   On the eve of the new Liberal government’s first federal budget, as Canada’s economy struggles amidst a global slowdown coupled with depressed commodity prices, the key for governments across the country is to focus on what they can ...

9. Troubled waters—Deficit spending and growing government debt in Canada

   The new federal Liberal government will table its first budget next week, with media reports suggesting Trudeau's government will post a $30 billion deficit—triple the amount promised in the Liberals election platform. This deficit ...

10. Moving targets, routine deficits, and Canada’s short-lived federal ‘fiscal anchor’

    Appeared in the Financial Post, February 25, 2016 During last fall’s federal election, the Liberals campaigned on a commitment to run budget deficits for its first three years, while promising that the size of those deficits would be capped at $10 billion ...