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1. Austerity—not increased spending—helped lay the groundwork for Portugal’s recovery

   Portugal’s economy has been doing rather well lately and its performance is being taken as a repudiation of the austerity measures of many EU countries in the wake of the Great Recession. A recent piece in the New York Times noted how in ...

2. Ontario’s fiscal paradox—a balanced budget and mounting debt

   Ontario has wrapped up its 2018 pre-budget public consultations as it prepares to deliver its next provincial budget. Ontario Finance Minister Charles Sousa confirmed in the fall fiscal statement that Ontario’s 2018 budget will be ...

3. The key fiscal lesson of Canada’s first 150 years—spend prudently

   As 2017 draws to a close, Canadians can reflect not only on the outcomes of the last year, but in this milestone 150th year of the federation, also where we are headed. What shall Canada’s economic achievements be as the next 50 years ...

4. Wynne government embarks on spending spree despite looming economic storm clouds

   Ontario’s economy is on a bit of a roll lately, with unemployment rates at the lowest they have been in some time and real GDP growing. While Canada’s real GDP was up 1.4 per cent in 2016, Ontario’s was up 2.6 per cent—the second-fastest ...

5. Quebec unemployment rate now lower than Ontario’s

   There’s a remarkable economic transformation underway in Quebec. The economy is growing and the unemployment rate is down. Indeed, Quebec’s unemployment rate (three-month moving average, seasonally adjusted) in July at 5.9 per cent is ...

6. Provincial government net debt up 89% in less than a decade

   After a lull spanning the first decade of the 21st century, it seems that provincial government debt is again on the rise. Based on figures compiled from the Federal Fiscal Reference Tables and plotted in the first chart below, total ...

7. Municipal public debt in Ontario—where you live matters

   Most discussions of public debt in Ontario revolve around the provincial government’s net debt, which for 2016-17 is estimated at $317.9 billion and in per capita terms amounts to approximately $22,800. However, Canada is a federation ...

8. Today’s federal fiscal update—that '70s show

   Patterns recur in the course of human events. In the case of federal government finances, with today’s federal fiscal update we are about to embark on a path with parallels to the 1970s. The ’70s represent a structural break in Canadian ...

9. As the federal budget looms, the government’s credibility remains questionable

   The federal budget on March 22 will be a keenly watched document for a variety of reasons. One can expect a ramping up of government spending based on the promises made in the Liberal election program for new initiatives in areas like ...