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1. Trudeau government’s approach to federal finances anything but ‘prudent’

   Appeared in the National Newswatch, December 2, 2020 Since coming to power in 2015, Prime Minister Trudeau —and his finance ministers —have characterized their management of federal finances as “prudent,” an adjective meaning to act with or show care and ...

2. Fiscal update—federal finances in worse shape than previously thought

   The Trudeau government released its fall fiscal update for 2020, which included more spending measures and grimmer deficit projections than previously anticipated. Unfortunately, the federal government also demonstrated little concern for ...

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. Trudeau government should heed looming risks to federal finances

   Appeared in the Globe and Mail, October 23, 2020 The federal government along with several prominent economists have downplayed the near-term risks to federal finances. Some have actually characterized Ottawa’s financial position as basically “ sound.” ...

5. Canada’s Aging Population and Long-Term Projections for Federal Finances

   Canada’s fiscal challenges extend far beyond just the short-term impact of COVID-19. An aging population will continue to place upward pressure on federal finances and a new structural imbalance between revenues and spending means deficits and ...

6. Federal finances remain vulnerable to fluctuating interest rates

   Appeared in Calgary's Business, August 20, 2020 There’s been a lot of movement in Ottawa lately, including Bill Morneau’s resignation as federal finance minister, with Chrystia Freeland taking his place. Unfortunately, the Trudeau government’s recent ...

7. To avoid fiscal crisis, Trudeau government must learn from history

   Canada’s near-debt crisis in the early 1990s showed what happens when governments ignore and continually defer meaningful action to address ongoing fiscal problems—namely, excessive spending, deficits and debt. Worryingly, the Trudeau ...

8. Ontarians—today and in the future—will pay the price for Ottawa’s debt

   At the end of fiscal year 2019, Ontario’s provincial government debt stood at $355 billion. For context, that’s more than $24,000 per Ontarian. With the COVID recession, this debt will grow further. Scotiabank Economics estimates a $36 ...

9. The finance minister said what? Part 5

   On July 8, Finance Minister Bill Morneau delivered the federal government’s economic and fiscal “ snapshot,” which pins the federal deficit at $343 billion in 2020. The finance minister lauded (yet again) that the government’s fiscal ...

10. Fiscal snapshot highlights deteriorating state of federal finances

    On Wednesday, the Trudeau government released a “ fiscal snapshot ” on the state of the economy and expectations for government finances for this year (2020/21). As expected, Finance Minister Bill Morneau confirmed a significant increase ...