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1. Governments betting on low interest rates may experience rude awakening

   Governments in Canada and around the world have run large budget deficits and greatly added to their debt loads due to their pandemic response and the accompanying economic downturn. Moreover, they are poised to add even more debt in ...

2. Federal finances ‘careening downhill’ fast

   It has now been nearly a week since federal Finance Minister Chrystia Freeland released the fall economic statement (FES). After a suitable period of digestion, it’s still unclear where exactly federal finances are heading aside from very ...

3. Canada’s fiscal situation near crisis levels

   As the pandemic continues, Ottawa and the provinces have embarked on a fiscal cruise whose ultimate port of destination is not necessarily a safe harbour. With an estimated federal deficit of more than $343 billion for 2020-21 combined ...

4. COVID-related spending increases threaten future economic growth

   Appeared in the Edmonton Sun, November 4, 2020 The COVID pandemic has sparked increased government spending worldwide including here at home. Many countries have introduced substantial fiscal packages with direct household income supports, loans, ...

5. Freeland takes over during massive federal spending spree

   It’s out with the old and in with the new in Ottawa as Chrystia Freeland replaces Bill Morneau as federal finance minister. Freeland takes over during a dramatic time in Canadian history, so it’s worth reviewing the history of federal ...

6. Federal debt may eclipse $1 trillion for first time in Canadian history

   The fiscal response to the COVID-19 crisis has been large at the federal and provincial levels. The reduction in economic activity and subsequent reduced government revenues has produced massive deficits. At the provincial level, ...

7. Government policies hurting—not helping—on several fronts

   Picture if you will the following scenario. There’s a forest fire underway. How to deal with it? One logical approach is to deploy firefighters and waterbombers to extinguish the fire. Another approach is to light a number of smaller and ...

8. Ottawa has a big spending problem

   As the dust settles from Monday’s federal economic and fiscal update, it becomes ever more apparent that Ottawa does not have a revenue problem but a massive spending problem. From budgetary revenues of $332.2 billion in 2018-19, the ...

9. Spending, not lack of revenue, driving Ottawa’s red ink

   As budget season approaches in Ottawa, attention will turn—for a moment, at least—to what the Trudeau government projects for federal revenues, expenditures the deficit and the debt. This government can already lay claim to the two ...

10. The Trudeau and Ford governments—two fiscal statements, one debt problem

    Appeared in the National Newswatch, November 14, 2018 Both the Ford government in Ontario and the Trudeau government in Ottawa will release their fall fiscal and economic statements this month. Despite a tendency to compartmentalize these separate events, ...