With talks to expand the Canada Pension Plan having stalled, the Ontario government has pledged to roll out its own provincial version.
government spending
Avril 17, 2014
2:00AM
As Ontario continues to undermine its economic future with growing debt, the province does not receive near the critical scrutiny it should from the media and financial markets. In reading CIBC World Markets latest Economic Insight, its not hard to understand why.
Avril 10, 2014
2:00AM
The economic news coming out of Ontario in recent days has been far from positive. The province's economic and fiscal position is weak and new analysis released by the Ministry of Finance suggests its economy will remain sluggish for the foreseeable future.
Avril 5, 2014
2:00AM
If Canadians ever wonder why it is so difficult to reform government spending, there's a simple reason: government employee unions.
A good example (if one can call it that) is the issue of growing government sector pension costs and the outright resistance from the unions to address the problem.
Some specifics. In January, Newfoundland and Labrador's auditor general Terry Paddon noted how unfunded employee pension benefits make up more than 60 per cent of that province's net debt and amounted to a $5.6 billion liability.
Avril 3, 2014
2:00AM
Imagine receiving a credit card bill that totaled $243,476. This would no doubt be a shock for most Canadians. But if you add up all the liabilities of every Canadian government "federal, provincial, and local" that is in fact how much each taxpayer would owe of the $4.1 trillion total in direct debt and unfunded liabilities.
This admittedly is a very large number and much bigger than what is usually talked about by both politicians and pundits alike. So let's deconstruct it to gain a better understanding.
Mars 29, 2014
3:00AM
No normal person pays close attention to who is "in" or "out" as finance minister, and that's a good thing. It means the politician in question has avoided messing up the lives of ordinary Canadians. Still, their actions can and do matter, for better or worse.
Mars 23, 2014
3:00AM
President Obama has frequently cited the seemingly intractable debate about the size of government currently consuming the political class as his primary obstacle to getting major reforms through a divided Congress.
For example, in his State of the Union address he said:
Mars 21, 2014
3:00AM
It has been more than two years since an independent commission submitted its report to the Ontario government on the provinces poor public finances and high government debt.