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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 ...
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Government debt—a snapshot of each province
The 2018 edition of the Federal Fiscal Tables is out, so it’s a good time to review the state of provincial government debt in Canada, especially given that we are about 10 years out from the financial crisis and Great Recession. Even ...
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Government debt and the next recession
Appeared in the New Brunswick Telegraph-Journal, October 25, 2018 News from Canada’s fiscal front is not good. Government deficit and debt numbers are rising due to accounting changes made to better reflect the true nature of government liabilities. ...
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Canadian household debt concerns are overblown
Once again, alarms are sounding about the level of household debt in Canada. A recent Financial Post story highlighted reports by both Equifax Canada and the Swiss-based Bank of International Settlements (BIS) about the growing household ...
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The Forgotten Middle: Public Debt in Manitoba
Most public policy discussions of provincial government deficits and debt in Canada have tended to focus on the bigger provinces: namely Ontario, Quebec, Alberta and British Columbia. Manitoba often flies under the radar especially ...
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Government debt a more pressing concern than household debt in Canada
The recent interest rate hike by the Bank of Canada has renewed concerns over household debt and the ability of Canadians to manage rising debt service costs, given that household debt has reached record levels. However, as a recent ...
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Concerns over household debt in Canada are overblown
Appeared in the Financial Post, July 18, 2017 With headlines like "Canadian household debt levels hit a record high" and dire warnings from top policymakers such as Bank of Canada governor Stephen Poloz, many Canadians may think household debt ...
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Household Debt and Government Debt in Canada
Canadians are regularly inundated with news stories about policy concerns over household debt. These concerns, however, can be seen to be overblown once we properly account for the other side of the balance sheet. Canadian households have taken on more ...
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Ontario's financial woes a problem for all of Canada
Appeared in the Waterloo Region Record Lost in the current flurry of Ontarios election campaign is the one key issue facing the province, and indeed all of Canada: Ontarios laggard economic performance is dragging down the national economy. Due to the ...