As Canadian governments struggle with budget deficits and mounting debt, it's important to recognize the potential long-term negative consequences of debt.
Government Spending & Taxes
If fossil fuels receive more than $2 billion in annual subsidy, let’s end it. And while we’re at it, let’s end the $800 million to wind producers and other subsidies to green energy.
If the carbon tax was in fact revenue neutral, Premier Notley's plan would include a clear list of what taxes are going to be cut.
Since 1990, Ontario has accumulated nearly $265 billion in net public debt. Put another way, nearly 90 per cent of Ontario’s net public debt has been accumulated over the last 25 years.
The Ontario government's strategy to eliminate the projected $8.5 billion deficit has largely hinged on hoping revenues will grow robustly and eventually catch up to spending increases. This is a risky strategy.
Some activists claim the existence of an “inequality crisis” and propose an array of populist policy responses. On these issues, Mr. Morneau would be well-served by considering recent think-tank research.
Yesterday, the Alberta government unveiled its new climate change strategy, calling for a carbon tax, which represents a new tax burden on Alberta businesses and families.
The appointment of Bill Morneau as minister of finance is particularly interesting because of his involvement in the world of public policy think-tanks. In recent years, the Fraser Institute and the C.D. Howe Institute (where Mr. Morneau recently served as Chair) have both produced important research that provides insights that can help guide the policy decisions of the new finance minister on a number of different files. This series of blog posts will highlight a number of key policy areas where Mr. Morneau’s think-tank experience can be especially useful.
Today, newly minted federal Finance Minister Bill Morneau released his first Update of Economic and Fiscal Projections. Unfortunately, the outlook isn’t positive.
Prime Minister Trudeau's letter to Finance Minister Bill Morneau lists 27 priorities—we offer a quick reaction to 13 of these priorities.
Subscribe to the Fraser Institute
Get the latest news from the Fraser Institute on the latest research studies, news and events.