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Morneau seems uninterested in perilous state of federal finances
Appeared in the Winnipeg Free Press, January 26, 2020 It’s hard to recall a time when Canada’s finances were so perilously close to rapidly deteriorating with seemingly little or no interest in Ottawa. Finance Minister Bill Morneau has been making the ...
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Ottawa and the provinces have a big debt problem
Appeared in the Globe and Mail, January 16, 2020 Governments across Canada will soon unveil their tax and spending plans in their 2020 budgets. This year’s budget season provides an opportunity for the federal and provincial governments to reverse the ...
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Federal spending reaches highest level in Canadian history
Appeared in the Financial Post, January 15, 2020 Sound fiscal policy is crucial for a healthy economy. A key component of sound policy is the appropriate size and role of government (i.e. government spending and regulations). Higher spending comes at the ...
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More bad news for federal finances—even worse if recession hits
Appeared in the Brandon Sun, January 10, 2020 Before Christmas, the Trudeau government released its Economic and Fiscal Update, which demonstrated this government’s proclivity for marked increases in deficit-financed spending despite warning signs of a ...
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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 ...
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Fiscal update—increased spending and debt comes at a cost
Nearly two months after the federal election, the Liberals released their fall fiscal update on Monday to inform Canadians about the status of the economy and government finances. Once again, the federal government failed to make ...
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Throne speech ignores realities of federal finances
In the recent throne speech, the federal government announced that its short-term priorities include increasing spending on government programs and reducing taxes for Canadians. Worryingly, these priorities will be financed entirely by ...
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Canada’s federal finances at risk—repeating mistakes of the past
Appeared in the Daily Gleaner, August 29, 2019 The latest economic news from the United States foreshadows recession. Recently, the U.S. stock market had its worst day in 2019, plunging 800 points. The bond market is showing weakness with short-term ...
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Ottawa’s appetite for spending continues to grow
Appeared in the Vancouver Province, August 16, 2019 With seemingly little regard for the consequences, the Trudeau government has increased spending throughout its mandate with no sign of change any time soon. This spending trend has been a stark ...
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Federal Deficits Then and Now: Is Canada Repeating the Fiscal Mistakes of 1965 to 1995?
From 1965 to 1995, the Canadian federal government repeatedly ran deficits, accumulating debt, a habit that culminated in the near crisis of the mid-1990s. After a period of reform beginning in 1995, Canada returned to deficits in 2008/09. While ...