In a recent debate on the pages of the National Post many Albertans might have missed, two economists, Rhys Kesselman from Simon Fraser University, and Jack Mintz from the University of Calgary, sparred over the most desirable tax mix for Alberta. Kesselman wanted Albertas single income tax rate replaced with cascading tax brackets, and structured to ensure higher overall taxes. Mintz advocated a sales tax but with the caveat that it be revenue neutral, i.e., some other tax should be lowered in exchange.
government spending
May 3, 2013
2:00AM
The May 2 minority Liberal budget is a politically expedient document that likely avoids an election but unfortunately fails to tackle Ontario's looming fiscal crisis. The longer the province waits, the more difficult and painful the reforms will be when the inevitable day of reckoning arrives.
May 2, 2013
2:00AM
Too often in politics, particularly during election campaigns, citizens conflate political brands with policy. That is, too often we make assumptions about the policies of political parties based on a perception rather than the reality of experience. Many assume, for example, that Conservatives care deeply about and pursue policies based on tradition, balancing budgets, and competitiveness while the NDP focus more on the poor and disadvantaged, strengthening unions, and restricting trade. The reality, however, is that policies are never that tightly woven with specific parties.
April 20, 2013
2:00AM
The recent death of Margaret Thatcher provoked a plethora of analysis and emotion about the late British prime minister. That was predictable given how the much-needed reforms of the British economy upset the turgid status quo; that was bound to produce admirers and critics.
April 18, 2013
2:00AM
With the Ontario government expected to soon introduce a new budget and the province continuing to head towards its own fiscal cliff, Premier Kathleen Wynne has a chance to make a clean break from the fiscal mismanagement of her predecessor, former Ontario Premier Dalton McGuinty. To stem the tide of rising debt, Premier Wynne needs to initiate a radical re-think of current spending and put forth a credible plan to balance the budget in the short term. Lets hope she understands and embraces the need for change.
April 13, 2013
2:00AM
There is apparently no shortage of politicians with a not-so-secret Hollywood love affair: they love to throw tax sweeteners and direct subsidies at the film industry, this in an effort to lure film production to their province or state.
The latest starry-eyed politician is the British Columbia opposition leader, Adrian Dix. In his run-up to that provinces May election, the B.C. NDP leader has promised to up the film tax credit for labour costs to 40 per cent, up from 35 per cent.
April 10, 2013
2:00AM
Last weeks provincial budget was a heap of bad news for New Brunswickers. First they learned that they will continue to be burdened by a government with shaky finances driven by annual deficits and mushrooming debt. Topping that off, Progressive Conservative Finance Minister Blaine Higgs proposed a series of highly damaging tax increases as a way out of New Brunswicks deep fiscal hole. Unfortunately, these tax hikes will cast a dark cloud over New Brunswicks economic prospects and likely bring little revenue in return.
April 10, 2013
2:00AM
Throughout human history, men and women have struggled to tear themselves free from concentrated power and its ill effects. While many people in developed, democratic and capitalist countries often take their freedoms for granted, history is filled with tyrants and bullies who stand between citizens, their freedom and their prosperity.
April 9, 2013
2:00AM
Michael Binnion, CEO of Questerre Energy and head of the Quebec Oil and Gas Association, has a great blog post up in which he discusses the impact that equalization payments have on Quebec's energy and natural resource policy.
Looking at Quebec's budget, Binnion observes:
April 5, 2013
2:00AM
With Ralph Kleins passing, many have tried to find a constant theme in his political life. The late premier was, to be sure, a populist. What else explains his reputation as a big spender when mayor of Calgary and then his switch to a prudent premier?
The explanation is not complicated: once the bills come due, even a populist politician will change course when the public sours on policy gimmicks, when they demand a government focus on the basics. That includes not bankrupting public finances or assuming taxpayers can be increasingly gouged to pay for political vote buying.